PETALING JAYA: Komarkcorp Bhd
has proposed to dispose of its industrial property in Cheras, Selangor, for RM40mil as part of efforts to optimise asset utilisation, reduce property-related costs and strengthen its financial position.
In a Bursa Malaysia filing on Friday, the group said its wholly owned subsidiary, Komark International (M) Sdn Bhd, had entered into a sale and purchase agreement with QM Print Sdn Bhd to sell the freehold property in Taman Cheras Jaya.
It said the disposal price was based on a willing-buyer willing-seller basis and matched the property's independently appraised market value of RM40mil as at July 9, 2026.
Komarkcorp expects to incur a net pro forma loss of RM5.67mil from the disposal, mainly due to real property gains tax and other transaction-related expenses.
Of the proceeds, RM3.2mil will be used to repay bank borrowings, RM31.6mil for working capital and RM5.2mil to meet proposed disposal-related expenses.
The company said the existing property is larger than its current operational requirements and it plans to relocate its factory, warehouse and office operations to smaller rented premises nearby in Cheras Jaya before the disposal is completed.
The proposed disposal is subject to shareholders' approval and is expected to be completed by the first quarter of 2027.
