KUALA LUMPUR: MKH Bhd
said its wholly-owned subsidiary Metro Kajang Sdn Bhd has proposed to dispose of its entire 100% stake in Vast Furniture Manufacturing (Kunshan) Co Ltd for CNY84mil (RM49.53mil) cash, in line with the group's direction to focus on its core businesses in property, construction and oil palm plantation.
Vast Furniture, based in Kunshan City in Jiangsu, China, is involved in furniture manufacturing and the rental of premises.
The buyer, Kunshan Meiao New Energy Technology Co Ltd, is a China-based company principally involved in the research and development of emerging technologies and its related technical services, and sales of photovoltaic equipment and solar thermal power generation products and engineering management services.
According to MKH's filing with Bursa Malaysia, the proposed disposal is estimated to result in a gain on disposal of about RM26.55mil based on the group's share of net assets in Vast Kunshan of about RM22.9mil as at June 30, 2025.
The proposed disposal is estimated to be completed by Dec 31, 2025.
