KUALA LUMPUR (Dec 28): Hong Seng Consolidated Bhd (formerly known as MSCM Holdings Bhd) is acquiring a plot of land in Kedah Rubber City (KRC) for RM45.74 million, to build and operate a plant that manufactures nitrile butadiene latex, a core material used in the making of nitrile gloves.
Hong Seng said in a stock exchange filing today that it has received an offer from Northern Corridor Implementation Authority (NCIA) to acquire the leasehold land plot in KRC, which has a land area of about 105 acres, to set up the plant.

NCIA is the statutory body established in 2008 to provide direction, and to devise policies and strategies that promote and accelerate the development of the Northern Corridor Economic Region (NCER). Launched in 2007, NCER is one of the regions identified under the Ninth Malaysia Plan for the promotion of balanced and equitable national economic development.

Covering an area of 1,244 acres, KRC is the first dedicated Rubber Industrial Park in Kedah that is envisioned to accelerate the development of Malaysia's rubber industry.
Hong Seng was unchanged at RM1.02 today, valuing the company at RM529.94 million.

https://www.theedgemarkets.com/article/hong-seng-buy-land-kedah-rubber-city-rm4574m-set-nitrile-butadiene-latex-plant
Sumber : The Edge Markets