KUALA LUMPUR (June 19): Newly listed kopitiam chain operator Oriental Kopi Holdings Bhd (KL:KOPI) has entered into an agreement to acquire the premises it currently rents as its head office and warehousing facility in Puchong, Selangor, for RM23 million.
According to a bourse filing, Oriental Kopi said further details — including the salient terms of the sale and purchase agreement (SPA), the rationale for the transaction, and associated risks — will be disclosed upon execution of the SPA, which is expected within 21 days from June 2, 2026, or at a later date mutually agreed upon by both parties.
The property comprises a 5,260.8-square-metre leasehold parcel of land with a factory unit erected on it. The vendor is Icon Facade Sdn Bhd, whose shareholders are Heng Ngeng Choo and Siau Fui Chien.
Oriental Kopi said the acquisition is expected to generate cost savings by eliminating rental and logistics expenses, while also mitigating the risk of losing the right to use the property.
Shares in Oriental Kopi were down three sen or 3.5% at 82 sen, valuing the group at RM1.64 billion. Since its listing on Jan 23 at 44 sen, the stock has gained 86%.
Source: The Edge Malaysia
2025-06-19T16:00:00Z