Hume Cement Industries Bhd’s (HCIB) announced that its unit Hume Concrete Sdn Bhd (HCCT) has accepted an offer from Skygate Technology (KL) Sdn Bhd (Skygate KL) to sell a plot of land in Prai Industrial Estate in Penang for RM39.8 million.
In a Bursa filing today (Jan 11), HCIB said the offer was made by Skygate KL to purchase the plot of land, together with the building on it, on “as is where is” basis.
The size of the plot was not disclosed in the filing.
The group said the proposed disposal will not have any effect on the issued share capital and the shareholdings of the substantial shareholders of the company.
However, should the proposed disposal is completed, HCIB said the group expects to realise an estimated net gain on disposal of approximately RM32 million.
“For illustrative purposes only, based on the HCIB shares in issue as at 29 December 2023, the consolidated earnings per share and
consolidated net assets per share of HCIB is expected to increase by approximately 5 sen and 6 sen respectively,” the group said.
It added that the disposal is not subject to the approval of the shareholders of HCIB.
The group said the offer entails that the 10 percent (including 2% of forfeitable deposit) of the purchase price shall be paid up on signing of sales and purchase agreement.
Meanwhile, the balance of RM35.82 million, shall be paid within 3 months from the date of the the purchaser, Skygate KL’s solicitors’ receipt of the requisite approvals from the Penang Development Corporation (PDC) and the Penang State authority for the transfer of the property.
