Following the proposed disposal, Jetson Development has signed a conditional sale and purchase agreement with TYH Management Sdn Bhd, KJB said.
PETALING JAYA: Kumpulan Jetson Bhd
’s (KJB) wholly owned subsidiary, Jetson Development (Asia) Sdn Bhd, is disposing of a piece of freehold industrial land in Selangor together with a factory complex built on it for RM35mil cash.
Following the proposed disposal, Jetson Development has signed a conditional sale and purchase agreement with TYH Management Sdn Bhd, KJB said in a filing with Bursa Malaysia yesterday.
It said the proposed disposal would unlock the value of and monetise the long-held property investment, where the proceeds would be largely allocated to finance working capital and to pare down long-term debt. —Bernama
