Ajinomoto sells land for RM408mil

PETALING JAYA: Ajinomoto (Malaysia) Bhd (AMB) is disposing of six parcels of land in Kuala Lumpur to Paragon TSL Sdn Bhd for RM408mil.

In a filing with Bursa Malaysia, AMB said the property was utilised as its corporate office and factory for production of halal-certified Umami Seasoning.

“However, the property is no longer able to accommodate further expansion of production capacity of AMB,” it said.

Upon disposal, AMB also said it proposes to distribute part of the proceeds of approximately RM128.89mil by way of a special dividend.