PMB Technology Berhad (PMBT) has proposed to dispose of a piece of leasehold land in Klang in a non-related party transaction to an individual named Ong Saut Mee.
In a Bursa filing today (Oct 16), PMBT said its wholly-owned subsidiary PMB Carbon Sdn Bhd (PMB Carbon) has entered into a Sale and Purchase Agreement with Ong Saut Mee today.
The company has proposed to dispose of the 56,655 sq metres piece of land for RM36.59 million. The lease will expire on March 30, 2097.
The sale consideration of RM36.59 million was on “willing buyer willing seller basis” after taking into consideration the professional valuation carried out by the independent registered valuer, Henry Butcher Malaysia Sdn Bhd.
With an original cost of investment of RM4.88 million, the proposed disposal is expected to generate an estimated one-off gain of RM25.75mil to the group after taking into account the estimated expenses of RM3.51mil in relation to this transaction.
