UMW Holdings disposes of land to Perodua

PETALING JAYA: UMW Holdings Bhd (UMW) is disposing of a 22.22 acre piece of land in Serendah, Selangor to Perusahaan Otomobil Kedua Sdn Bhd (Perodua) for RM52.27mil.

In a filing with Bursa Malaysia, UMW said the disposal of the land, which is located within the UMW High Value Manufacturing Park, will provide a positive financial impact to its income statement, balance sheet and cashflow.

UMW said it will also benefit from future contributions from Perodua when the latter develops and utilises the land for its strategic purpose, where financially, 38% of that will be shared with the UMW group.

UMW is the largest shareholder of Perodua with a 38% interest.