Ajiya to dispose Puchong property for RM58mil
KUALA LUMPUR: Ajiya Bhd's subsidiary, Ajiya Safety Glass Sdn Bhd (ASG) has inked a sale and purchase Agreement (SPA) with Esprit Care Sdn Bhd (ECSB) to dispose of a freehold industrial land in Puchong, Selangor for RM58 million.
Ajiya Bhd's subsidiary, Ajiya Safety Glass Sdn Bhd (ASG), has agreed to sell a freehold industrial land in Puchong, Selangor, for RM58 million to Esprit Care Sdn Bhd (ECSB). The land, which spans 1.35 hectares and has a gross built-up area of 9,839.52 square metres, consists of a single-storey factory and a two-storey office. The disposal consideration was determined based on a willing buyer-willing seller basis, taking into account the property's indicative market value of RM40 million, which includes RM27 million for the land and RM13 million for the building, as assessed by CBRE WTW Valuation and Advisory Sdn Bhd.
The sale is expected to result in an estimated gross gain of RM25.44 million, after accounting for the reversal of deferred tax liability of RM4.47 million. Proceeds from the disposal will be used to support working capital requirements, finance ongoing business expansion initiatives, fund prospective business activities, and potentially support dividend distributions.
The disposal is expected to be completed by the first quarter of 2027, barring any unforeseen circumstances.
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