PETALING JAYA: Perak Corp Bhd
and its holding corporation, Perbadanan Kemajuan Negeri Perak are disposing of three plots of state land Lumut, Perak measuring approximately 17.35 acres to Lumut Maritime Terminal Sdn Bhd (LMTSB) for RM8.53mil.
In a filing with Bursa Malaysia, Perak Corp said LMTSB is an indirect subsidiary in which Perak Corp holds a 50% plus one share, thus constituting an intercompany transaction within the Perak Corp Group.
“The proposed disposal aligns with the group’s financial and asset management strategy by optimising ownership structures without affecting Perak Corp’s consolidated financial position.
“Additionally, the land holds strategic importance in supporting LMTSB’s expansion plans, enhancing port efficiency and strengthening its service capacity, ultimately contributing to the group’s overall value creation.”
Perak Corp said it intends to utilise the net sale proceeds to meet the working capital requirements of the company and of the group.
