KYM Holdings Bhd Proposed disposal of a leasehold located in Ulu Langat for a cash consideration of RM22.95 million would provide an opportunity for the company to unlock the value and monetise its investments in property assets.
In a circular to its shareholders ahead of the extraordinary general meeting, it said that the proposed disposal can be utilised for the repayment of bank borrowings of RM 3.5 million, Working capital of RM15.775 million, capital expenditureRM2.3 million, and defray estimated expenses relating to the Proposed Disposal RM1.4 million.
Accordingly, KYM Group is able to realise a net gain from the disposal of the Subject Property of approximately RM14.5 million and provide KYM Group with additional funds to be utilised for its existing business.
The EGM is consider the resolution of the proposed disposal by Anabatic Sdn Bhd, a wholly-owned subsidiary of KYM Holdings Bhd of leasehold industrial land in Ulu Langat for RM22.975 million and the establishment of an employee share scheme of up to 15% of the total number of ordinary shares in KYM Holdings Bhd.
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