UMW to sell land to Perodua for RM52mil

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 would also benefit from future contributions from Perodua when the latter develops and utilises the land for strategic purpose, where financially, 38% would be shared with the UMW group.

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