Hume Cement Industries Berhad has informed that its wholly owned subsidiary Hume Concrete Sdn Bhd had entered into a conditional sale and purchase agreement with Skygate Technology (KL) Sdn Bhd for the proposed disposal of a parcel of land together with the buildings.
The said property is located in Prai Industrial Estate, Pulau Pinang and will be sold for a cash consideration of RM39.8 million.
HCCT is the registered and beneficial owner of the parcel of leasehold land together with the buildings thereon and all fixtures, fittings and other things thereon measuring approximately 60,702.75 square metres. CBRE WTW Valuation & Advisory Sdn Bhd have appraised the Property at RM28 million.
Skygate KL was incorporated in Malaysia on 11 October 2022 and is principally engaged in export and import of electrical and electronic component and wiring accessories, as well as other components for electronic applications.
The group feels the property is not needed for its operations and the disposal will enable it to realise its investment in the Property.
