KUALA LUMPUR: Hextar Technologies Solutions Bhd
(HexTech) has entered into a sale and purchase agreement (SPA) with Dataran Ehsan Sdn Bhd to dispose of land in Klang for RM8.78mil cash.
In a filing with Bursa Malaysia, HexTech said its wholly-owned subsbdiary, Sin Hiap Hoe Trading & Transport Sdn Bhd signed the SPA for the disposal of a 99 years leasehold land measuring 9,712 sq m in Klang to the Dataran Ehsan.
“The disposal will allow HexTech group to monetise its non-core assets and utilise the proceeds to fund the expansion of its technology business, which includes application development costs as well as working capital.
“In addition, this will also improve the financial position of the group to reflect its business focus going forward which will be in the technology business,” HexTech said.
The disposal of property is expected to be completed in the third quarter of 2024.
