PETALING JAYA: Hextar Healthcare Bhd
’s indirect wholly-owned subsidiary Rubberex Alliance Sdn Bhd is selling two parcels of vacant industrial land in Sungai Terap, Kinta in Perak to Jutanaga Sdn Bhd for RM11.9mil.
In a filing with Bursa Malaysia, the company said the two parcels, measuring a combined 48,099 sq meters (12,839 sq m and 35,260 sq m), had a net book value of RM11.1mil as of Dec 31, 2024.
“Hextar Healthcare acquired the property in January 2021 for RM11.9mil,” it said, adding that as the disposal price is equal to the investment cost. The proposed disposal will result in no gain and no loss to the company.
Hextar Healthcare said the disposal price was determined on a "willing buyer, willing seller" basis.
It said the decision to sell the property aligns with its current strategy, as the company has no plans to expand operations in the foreseeable future.
It added that the proceeds from the sale will be used to strengthen its working capital and eliminate maintenance costs associated with the property.
The transaction is expected to be completed within three months.
