Corporate digest
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Yongnam Holdings
A WHOLLY-OWNED subsidiary of Yongnam Holdings is buying three parcels of industrial land in Johor for RM46.7 million (S$15.6 million) to move its factory operations there. The group said it has been experiencing higher fabrication labour costs at its Singapore factory over the years, and intends to move most of its factory operations to Malaysia. The purchase will be funded with internal resources and bank borrowings, according to Yongnam.
Lippo Malls Indonesia Retail Trust
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