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Property News

Wasco’s Maple Sunpark sells Klang properties to Wasco Thermal for RM65m

KUALA LUMPUR (Dec 29): Wasco Bhd’s wholly-owned unit Maple Sunpark Sdn Bhd has signed sale and purchase agreements with Wasco Thermal Sdn Bhd, an indirect 60%-owned subsidiary of Wasco, to sell properties worth RM64.89 million.
The sale of properties would include two pieces of industrial land in Klang, Selangor, measuring about 18,211 sq m and 18,186 sq m in area respectively, together with a detached factory/warehouse and office building erected on each property, it said.
In a filing with Bursa Malaysia on Friday, the group said the sale consideration would be satisfied partly by cash and partly financed through internally or externally generated funds.
Wasco said the exercise would streamline the properties of the group to the respective operating unit for efficiency purposes.
The group said the transaction would be an internal group transfer of properties for operational efficiencies, and as such, there would be no externally generated proceeds from the transaction.
It said the sale would not have any effect on the group’s share capital and substantial shareholdings, net assets, earnings as well as gearing.
“Barring any unforeseen circumstances, the sale of properties is expected to be completed in or before the first quarter of 2024,” it added.
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Source: EdgeProp.my

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