KUALA LUMPUR: Metronic Global Bhd
has proposed to dispose of a freehold industrial property in Bukit Jelutong, Shah Alam for RM9.42mil.
In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Metronic Engineering Sdn Bhd, had entered into a sale and purchase agreement with Twin Hydraulics Engineering Sdn Bhd for the proposed disposal.
The property comprises a freehold industrial land measuring 23,838 sq ft together with a three-storey semi-detached factory located in Bukit Jelutong, Shah Alam.
The factory has a built-up area of 25,112 sq ft and is currently vacant.
The property is currently charged to Malayan Banking Bhd as security for banking facilities with outstanding balances totalling RM7.67mil as at May 11, 2026.
Metronic said the property was no longer fully utilised following workforce reduction and operational improvement initiatives, including remote work and workspace optimisation, making it suitable for divestment
It added that the disposal reduces ongoing property-related overheads and improves operational efficiency, which includes repair and maintenance, insurance, securities, utilities and assessment tax and quit rent.
“The company has also relocated its operation to premises that better support current operational and business requirements with much lower operating costs,” it said.
Of the RM9.42mil proceeds, RM3.07mil will be used for loan repayment, RM5.78mil for working capital, while the remainder will be allocated for real property gains tax and related fees.
The proposed disposal is expected to be completed by the second quarter of FY2027.
