PMBT disposes of Klang land for RM79mil

PETALING JAYA: PMB Technology Bhd (PMBT) is disposing of a piece of leasehold land measuring 113,311.968 sq metres in Klang, Selangor to Knauf Sdn Bhd for RM79.28mil.

In a filing with Bursa Malaysia, PMBT said the proposed disposal will enable the group to unlock capital resources from being tied up in long term assets and realise the property at a fair market value, whilst enhancing the group’s liquidity and strengthening its financial position.

“The proposed disposal is expected to contribute a net gain of approximately RM51mil to the group, of which shall increase the earnings per share of the group for the financial year ending Dec 31, 2024.”

PMBT said the proposed disposal will reduce its gearing ratio to 0.84 times from 0.89 times previously.

“Barring any unforeseen circumstances, the proposed disposal is expected to be completed by the fourth quarter of the calendar year 2024,” said PMBT.