PETALING JAYA: Mieco Chipboard Bhd
(MCB) is disposing of two pieces of freehold industrial land (with the buildings erected thereon) totalling 68,533 sq metres in Semenyih, Selangor, to Jin Ye Ye Sdn Bhd for RM57mil.
In a filing with Bursa Malaysia, the particleboards manufacturer said the disposal represents a strategic initiative undertaken to enhance the long-term viability of the group amid an increasingly challenging operating environment.
“It forms part of the group’s ongoing asset rationalisation exercise, which includes the disposal of assets to reduce borrowings and interest cost, strengthen working capital and improve overall operational efficiency.”
Barring any unforeseen circumstances, MCB said the disposal is expected to be completed in the second half of 2026.
“The estimated net profit arising from the disposal is RM11.27mil, which is equivalent to 1.13 sen per share,” it said.
