PETALING JAYA: Sapura Industrial Bhd
has executed a letter of offer with Zeito Plastic Components Sdn Bhd to dispose of two pieces of land.
In a statement to Bursa Malaysia, the automotive component manufacturer said both lots were vacant and located in the Ulu Langat district.
Both were initially acquired by the group to expand its plant in Bandar Baru Bangi.
“Having held the properties as an investment for 22 years and considered the need for an expansion of plant in other areas which are in closer proximity to Sapura Industrial’s or its subsidiaries’ customers, the board believes that the proposed disposal is timely, allowing the group to unlock the value of its non-core assets and convert them into liquid funds for more productive operational use and other expansion opportunities,” it said.
