Singapore's Aspen (Group) Holdings Ltd. said June 13 that affiliate Global Vision Logistics Sdn. Bhd. is allotting at least 600 million Malaysian ringgit to develop a recently acquired industrial site in Selangor, Malaysia.
The planned logistic facilities and solutions project will span about 3.3 million square feet.
Global Vision settled its 190 million ringgit acquisition of the 71-acre industrial site intended for the development. The deal with Chemical Co. of Malaysia Bhd. was signed in December 2017.
As of June 13, US$1 was equivalent to 3.98 Malaysian ringgit.