Hosen Group's (SGX:5EV) wholly owned subsidiary, Hosen Chocolate, agreed to acquire a piece of freehold land of about 6,378 square meters in Malaysia from Greenhill SILC for 7.6 million ringgit, a filing with the Singapore Exchange said on Friday.
Based on the agreement, Hosen Chocolate has also entered into a construction agreement for the development of a one and a half story detached factory on the said land with a total built up area of approximately 41,960 square feet, subject to approval by the local authorities.
The expected construction cost of the building is 9.6 ringgit million.
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