PETALING JAYA: SWS Capital Bhd
’s wholly owned subsidiaries, U.D. Wood Products Sdn Bhd and Syarikat U.D. Trading Sdn Bhd, have entered into sale and purchase agreements with Seng Seang Trading Sdn Bhd to dispose of three leasehold industrial properties in Muar, Johor, for a total cash consideration of RM15.5mil.
In a filing with Bursa Malaysia, the manufacturer and trader of plastic wares, utensils and goods said the assets comprised a double-storey factory/warehouse and a piece of leasehold industrial land, as well as a two-storey office together with a single-storey factory/warehouse.
“The proposed disposals is part of SWS’s ongoing group-wide rationalisation exercise for the group’s operation.
“It will allow SWS Group to realise the value of its investments and redeploy the proceeds for other ventures within its operating units,” it said.
