KUALA LUMPUR: BWYS Group Bhd’s shareholders have approved the disposal of a leasehold industrial property in Bukit Changgang for RM67mil, alongside the acquisition of a freehold industrial land in Tanjong Duabelas for RM94.5mil.
Both properties are located in Kuala Langat, Selangor.
In a statement, the sheet metal products manufacturer and scaffolding supplier said the approvals were obtained at its extraordinary general meeting held today.
The disposal involves industrial land together with existing buildings at Bukit Changgang, while the acquisition relates to a freehold industrial land parcel in Tanjong Duabelas.
BWYS said the proposed Bukit Changgang disposal will enable the group to unlock the value of a non-core asset and strengthen its financial position.
Proceeds from the sale are expected to be used for the repayment of bank borrowings, working capital requirements and partial funding of the proposed Tanjong Duabelas land acquisition.
“This transaction also allows the group to optimise its asset base and improve capital efficiency by reallocating resources towards higher value-added and growth-supporting initiatives,” BWYS said.
Meanwhile, the proposed Duabelas land acquisition supports the group’s long-term expansion plans by providing capacity for new manufacturing and warehousing facilities within a strategic industrial hub.
Managing director Kang Beng Hai said the approval of both the Changgang property disposal and the Duabelas land acquisition reflects the group’s disciplined approach to asset management and long-term planning.
“By unlocking value from a non-core asset while securing strategically located land to support future operations, the group is strengthening its balance sheet and enhancing flexibility to support sustainable growth over the longer term.”
