PETALING JAYA: Sapura Industrial Bhd
(SIB) is disposing of a piece of vacant freehold industrial land measuring 35,332 sq metres in Seremban, Negeri Sembilan to Lim Chee Cheng and Lim Chee Meng for RM24.72mil.
In a filing with Bursa Malaysia, the automotive parts manufacturer said the proposed disposal provides an opportunity for SIB group to realise the capital appreciation of the land.
“Having held the asset as an investment for seven years, the board believes that the proposed disposal is timely, allowing SIB Group to unlock the value of its non-core assets and convert them into liquid funds for more productive operational use.
“The proceeds from the proposed disposal, after deducting the relevant expenses, are intended to be utilised for general working capital requirements as well as capital expenditure to expand production lines within a period of 24 months from the receipt of the sale consideration.”
SIB said the disposal is not expected to have any material effect on the earnings per share, net assets per share and gearing of the group for the financial year ending Jan 31, 2026, save for the expected gain on disposal of RM6.7mil to be recognised upon completion of the disposal.
