PETALING JAYA: Knusford Bhd
is proposing to dispose of a piece of freehold land measuring 0.304 ha in Setapak, Kuala Lumpur to Tahap Juara Sdn Bhd for RM7mil.
In a filing with Bursa Malaysia, the company said the proposed disposal provides an opportunity for the group to unlock the value of its investment on the property and monetise a non-core asset.
Upon completion of the proposed disposal, Knusford said it is expected to record a net gain on disposal of approximately RM4.55mil, thus realising the appreciation in value of the property.
“The proceeds from the proposed disposal will be utilised for the general working capital purposes of the group.
“Barring any unforeseen circumstances and subject to all required approvals being obtained, the board expects the proposed disposal to be completed by July 2026,” it said.
