Datasonic drops RM28.5mil deal over fire safety approval
KUALA LUMPUR: Datasonic Group Bhd has called off its proposed RM28.5 million purchase of an industrial property in Petaling Jaya after failing to obtain the required fire safety approval.
Datasonic Group Bhd has cancelled its RM28.5 million deal to buy an industrial property in Petaling Jaya due to unresolved fire safety issues. The Fire and Rescue Department's approval was a prerequisite for the sale. Datasonic Technologies Sdn Bhd, a wholly owned subsidiary, informed vendor Pixio Sdn Bhd of the termination on Tuesday.
Pixio must return the RM2.85 million deposit within 14 days of receiving the notice. Upon receiving the refund, Datasonic will sign a termination deed, making the agreement null and void. The property, which includes a factory, office block, warehouse, and guardhouse, was intended to boost Datasonic's production capacity and efficiency.
The transaction, initially announced in July 2025, was to be funded through internal resources, bank loans, or private placements. Datasonic reported a net loss of RM2.82 million for the quarter ending June 30, 2026, compared to a net profit of RM64.88 million the previous year. The decline was attributed to reduced smart card and passport sales and lower income from other ventures.
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