Pintaras Jaya to dispose of industrial land in Klang for RM25.28mil

KUALA LUMPUR: Pintaras Jaya Bhd has proposed to dispose of a piece of freehold industrial land in Klang, Selangor, measuring approximately 1.17 hectares, to Senheng Electric Sdn Bhd for RM25.28 million.

"As the company has no immediate plans to use the land, the proposed disposal represents an opportunity for the group to realise the value of the land and unlock capital resources from being tied up as long-term assets,” it said in a filing with Bursa Malaysia today.

It said the exercise would strengthen the company’s liquidity and financial position and proceeds derived from the proposed disposal would be utilised as its working capital.

It added that the proposed disposal is expected to contribute positively to the earnings of the company for the financial year ending June 30, 2022.

At close, Pintaras Jaya shares was up by 0.78 per cent to RM2.60 with 6,900 shares transacted. - Bernama