3 days ago
Ta Win to sell land in Klang for RM45mil
PETALING JAYA: Ta Win Holdings Bhd is disposing of 16,187 sq m of industrial land in Klang, Selangor to Metal Recovery Industries Sdn Bhd for RM44.5mil.
In a filing with Bursa Malaysia, the manufacturer and exporter of enamelled copper wires and copper rods said the disposal would allow the company to focus on its core operations.
'The property is vacant and non-operational, making it non-essential to our core business.'
With manufacturing centralised at its Melaka facility, Ta Win said disposing of the asset allowed management to streamline efforts and resources towards optimising primary operations.
'Monetising this idle asset unlocks cash, which can reduce borrowings and lower interest costs. The cash infusion also improves working capital,' Ta Win added.
