Warisan TC expects RM1.85mil net gains from RM49mil Selangor land sale
It was previously reported on July 1 that WTCH had divested the industrial property in Petaling Jaya to unlock value and strengthen its working capital.
In a filing with Bursa Malaysia today, WTCH said the group intends to utilise the proceeds for working capital purposes, including procurement of inventory in the ordinary course of business (RM38.24 million), capital expenditure (RM9 million), as well as expenses and taxation for the disposal (RM1.76 million).
WTCH said the disposal is being undertaken by its 75.5 per cent-owned unit, Comit Communication Technologies (M) Sdn Bhd (CCT), which has entered into a sale and purchase agreement with Leisure Event.
It added that the net book value of the property as per the audited financial statements of CCT for the financial year ended Dec 31, 2024, stood at RM45.4 million. - Bernama
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