Hume Cement Industries Berhad has proposed to dispose of its property in Penang to Skygate Technology (KL) Sdn Bhd which is a parcel of land together with the buildings for cash consideration of RM39.8 million.
HCCT is the registered and beneficial owner of the parcel of leasehold land together with the buildings. Skygate KL offered to purchase the Property on an “as is where is” basis and subject to all conditions of title and restrictions in interest whether expressed or implied affecting the title to the Property, subject to the terms and conditions contained in the Offer.
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. Assuming the Proposed Disposal is completed, HCIB Group expects to realise an estimated net gain on disposal of approximately RM32 million.
