Tex Cycle unit to dispose of Kuchai Lama property for RM29mil

KUALA LUMPUR: Tex Cycle Technology (M) Bhd's wholly-owned subsidiary Metro Envy Sdn Bhd is disposing of a 4,822.7 sqm leasehold property with a three-storey industrial building in Kuchai Lama, Kuala Lumpur, for RM29mil.

In a filing with Bursa Malaysia, the group said Metro Envy had signed a sales and purchase agreement with the purchaser, Gorgeous Arena Sdn Bhd, as the proposed disposal presents an opportunity to realise the value of its investment in the property.