PETALING JAYA: Gurun Heavy Industrial Park Sdn Bhd (GHIP), an indirect subsidiary of Ann Joo Resources Bhd
, and its joint venture partner Transyear Sdn Bhd are disposing of a 60.1 acres piece of freehold land at the Gurun Heavy Industrial Park, Kedah, to LB Advanced Material Asia Sdn Bhd for RM117.81mil.
In a filing with Bursa Malaysia, Ann Joo said the disposal is part of the joint development of the Gurun Industrial Park under an existing joint venture agreement between GHIP and Transyear.
“The disposal enables GHIP, via its joint venture with Transyear, to develop and monetise its industrial landbank progressively.
“The disposal is expected to enhance future cash flow and earnings visibility for the group.”
Ann Joo said the disposal is not expected to have any significant impact on the net assets, gearing or earnings per share of the company for the financial year ending Dec 31, 2026.
