PETALING JAYA: PTT Synergy Group Bhd
is disposing of a 4,987 sq metre freehold industrial land parcel in Bandar Bukit Raja, Klang for RM17mil as part of its efforts to rationalise non-core assets.
In a filing with Bursa Malaysia, the group said its indirect wholly-owned subsidiary, PTT Assets Sdn Bhd, had entered into a sale and purchase agreement with WDG Resources Sdn Bhd to dispose of the land together with a double-storey detached factory with a gross built-up area of approximately 20,197 sq ft.
PTT said the disposal consideration was arrived at on a "willing-buyer willing-seller" basis.
"The proposed disposal is deemed part of PTT to rationalise the non-core assets. With the disposal, this will reduce PTT's operational cost and maintenance cost of the property,” it said.
The property has a net book value of RM15mil as at June 30, 2025, and the disposal is expected to result in a gain of about RM2mil.
PTT acquired the property for RM11.28mil on Dec 29, 2022.
The group said RM11mil of the proceeds will be used to repay borrowings, while the remaining RM6mil will be allocated for general working capital within 12 months.
According to the filing, WDG Resources is principally engaged in the trading, distribution, wholesale and retail, renting, leasing and servicing of industrial machinery, equipment and parts.
