UMW Holdings Berhad to dispose a piece of land measuring approximately 22.22 acres to Perodua Sales for approximately RM52 million.
The land is located within UMW High Value Manufacturing Park, Serendah. Perodua is an associate company of UMWH by virtue of the 38% equity stake held by UMW Automotive, a wholly owned subsidiary of the group.
The the group said the sale of land is in the ordinary course of business for UMWD as a property investment and development company. The transaction it said gives positive financial impact to UMWD on the income statement, balance sheet and cashflow.
Beyond the transactional benefit of this land sale, UMW Group said it will also benefit from future contribution of Perodua Group by it developing and utilising the Land for its strategic purpose, where financially, 38% of that will be shared.
