PETALING JAYA: Sern Kou Resources Bhd
is proposing to dispose of two contiguous parcels of industrial land in Tangkak, Johor to Leong Hup Agrobusiness Sdn Bhd for RM3.97mil.
In a filing with Bursa Malaysia, the furniture firm said the property is currently not in use for any of its operations.
Sern Kou said the proposed disposal will allow the group to strengthen its liquidity and cash flow position by raising total net cash proceeds of RM3.67mil, which will be utilised as working capital.
The company said the proposed disposal is expected to be completed in the second quarter of financial year 2026.
Sern Kou said the working capital requirements are primarily for the group’s day-to-day operations to support its business activities, including but not limited to payments to suppliers, staff salaries and finance cost.
“The breakdown of the proceeds to be utilised for each working capital component has not been determined at this juncture.
“The actual amount to be utilised for each component may vary depending on the operating requirements at the time of utilisation.”
