Tien Wah Press Holdings Bhd has announced plans to acquire five parcels of land totaling approximately 23,393 square meters in Malang, Indonesia, along with the buildings on the sites, for a total of RM34.07 million. The transaction will be conducted through PT Bintang Pesona Jagat (BPJ), a subsidiary in which Tien Wah holds a 51% indirect stake.

The company disclosed the proposed purchase in a filing with Bursa Malaysia, noting that the acquisition aims to secure the continued operation of BPJ’s existing production facility after the expiration of its current lease agreements. By owning the land and premises, BPJ is expected to maintain operational continuity and enhance its capacity to bid for future supply contracts.

Tien Wah Press highlighted that, despite the acquisition bolstering its operational base in Indonesia, the future performance of BPJ and the broader group remains subject to various factors. These include the successful awarding and execution of customer contracts, prevailing market conditions, financing costs, and the realization of potential risks.

The deal represents a strategic move for Tien Wah Press as it seeks to solidify and expand its production footprint in Indonesia amid competitive market dynamics. The company did not provide a specific timeline for the completion of the acquisition or details on financing arrangements.