PETALING JAYA: PTT Synergy Group Bhd
is disposing of a 4,987 sq m 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, alondside a double-storey detached factory with a gross built-up area of approximately 20,197 sq ft.
It said the disposal consideration was on a “willing buyer-willing seller” basis.
“The proposed disposal is deemed part of PTT to rationalise non-core assets. With the disposal, this will reduce PTT’s operational and maintenance costs of the property,” it said.
The property had a net book value of RM15mil as at June 30, 2025, and the disposal is expected to result in a gain of approximately RM2mil.
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.
