PETALING JAYA: Tafi Industries Bhd
is disposing of a piece of freehold land measuring 2.074ha in Muar, Johor to Bripanel Industries Sdn Bhd for RM23.5mil.
In a filing with Bursa Malaysia, the furniture manufacturing, property development and construction firm said the land had a factory building erected thereon.
“Tafi group had decided to dispose of the said property and discontinue its own loss-making furniture manufacturing activities. The group will still be involved in the furniture business, if any, by utilising other suppliers and manufacturers,” it said.
Tafi said the disposal of the property and discontinuation of the group’s own loss-making furniture manufacturing activities is expected to contribute positively towards the group’s cashflows.
