Logistics Holdings invests $5 million in precast plant in Iskandar

Singapore-listed Logistics Holdings, a construction firm which builds HDB flats, is venturing into the precast business, it said on Monday.

It has formed a joint venture with Concrete Innovators to invest $5 million in a precast products manufacturing plant in Iskandar Malaysia.

Logistics Holdings has an 80 per cent stake in the joint venture.

The plant, which sits on a land area of 2.83 hectares, will have an annual capacity of 21,000 cubic metres, equivalent to 450 four-room HDB units.

The plant is expected to be ready by the middle of next year, but production can begin as soon as the second quarter of next year, the company said.