PETALING JAYA: JAKS Resources Bhd
has inked a sale and purchase agreement with Hectare Square Sdn Bhd to dispose of 1.214ha freehold industrial land together with a one-storey factory in Jalan Subang, Selangor, for RM25.9mil.
The construction firm told Bursa Malaysia yesterday that the rationale for the sale was to unlock its capital resources from being tied up as long-term assets and that it wanted to realise the value of the property at a fair market value, apart from enhancing the group’s liquidity as well as strengthen its financial position.
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