PETALING JAYA: Sapura Industrial Bhd
(SIB) is disposing of a piece of vacant freehold industrial land measuring 35,332 sq m in Seremban, Negri Sembilan, to Lim Chee Cheng and Lim Chee Meng for RM24.72mil.
In a filing with Bursa Malaysia, SIB 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,” it said.
The proceeds will be utilised for general working capital requirements and capital expenditure to expand production lines.
SIB said the disposal is not expected to have any material effect on 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.
