PETALING JAYA: Tafi Industries Bhd
is disposing of one of its industrial premises in Muar, Johor, to Comfy Factor Sdn Bhd and NNST Capital Sdn Bhd for RM12mil.
In a filing with Bursa Malaysia, TAFI said the premises comprises a single-storey detached factory annexed with a three-storey office and a guard house.
The single-storey detached factory was primarily used for furniture manufacturing. TAFI Group had decided to dispose of the said property as it will be more economical and cost efficient to sub-contract out certain manufacturing processes which have low demand.
“The disposal of the said property will not affect the group’s furniture production capacity, which is mainly carried out at TAFI Group’s main factory by centralising manufacturing control in one factory.”
The company added that the disposal of the factory will realise a gain after the real property gains tax of RM8.1mil and will contribute positively towards its cash flow and working capital position.
In the same statement, TAFI Group chief executive officer Datuk Seri Bryan Wong said that the decision to dispose of the factory was part of management’s strategy to streamline and increase efficiency of the group’s business operations.
“TAFI Group continues to be profitable for three consecutive financial years since the financial year 2021,” he said.
