Uchi Tech sells property in Penang

KUALA LUMPUR: Uchi Technologies Bhd’s wholly owned subsidiary Uchi Optoelectronic (M) Sdn Bhd has agreed to dispose of a tract of leasehold land in Penang.

The land, including a factory building and structure in Seberang Perai Tengah on Penang island, will be sold to XFS Sdn Bhd for RM19mil, it said in a filing with Bursa Malaysia.

The group said the land tract measured 12,999.48 sq m.

It said the property was not required for its operation and the disposal is expected to result in an estimated gain of RM9.55mil.

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