KUALA LUMPUR: GUH Holdings Bhd
’s wholly owned subsidiary GUH Circuit Industry (Suzhou) Co Ltd (GUH Suzhou) will be compensated by the Suzhou government on signing an agreement with the Suzhou High-tech Zone Shishan Business Innovation District Management Office (SHZ Management Office) for the repossession of the state-owned land use rights in the Suzhou High-tech Zone, China.
GUH said in a filing with Bursa Malaysia that GUH Suzhou has agreed to transfer the land to the SHZ Management Office for 195 million yuan (RM119.83 million), with the proposed disposal to be completed in the first quarter of 2026.
GUH was granted the land use rights in 1997 by the Suzhou government.
The land was designated for industrial use and contains three industrial factory buildings and five auxiliary buildings.
GUH said the proposed disposal arose as a result of the Suzhou government announcing its plans to urbanise the Suzhou New District, including the re-zoning of industrial areas to commercial and/or residential areas.
"The proposed disposal will allow the group to recoup its investment (for which the land use tenure has a remaining lease term of 22 years) and completely exit its printed circuit board venture in Suzhou,” it said. - Bernama
