KUALA LUMPUR: JADI Imaging Holdings Bhd's wholly-owned subsidiary Jadi Imaging Technologies Sdn Bhd has entered into a sales and purchase agreement with TT dotCom Sdn Bhd for the disposal of a property for RM18.5mil.
The property is a tract of freehold industrial land measuring 4,260 sqm in Glenmarie, Petaling, with a two-storey office building with four detached warehouses, said Jadi Imaging in a bourse filing.
The company said the property had a RM5mil original cost of investment and an audited book value of RM19.02mil as at the financial year ended March 31, 2023.
Consequently, the proposed disposal of the property is expected to result in a one-off loss of RM515,922 for the company.
Jadi Imaging said the proposed disposal will bolster its cash flow as it directs the proceeds to working capital.