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PETALING JAYA (Aug 11): Sapura Industrial Bhd completed the disposal of a parcel of vacant freehold industrial land in Bandar Sri Sendayan, Negeri Sembilan, for RM24.72 million in cash.
The automotive-components manufacturer said in a Bursa Malaysia filing on Monday (Aug 10) that its wholly-owned subsidiary, Sapura Machining Corporation Sdn Bhd, had completed the transaction on Aug 10 in accordance with the terms and conditions of the sale and purchase agreement (SPA), executed on Jan 27.
The 35,332 sq m (8.73-acre) site was sold to buyers Lim Chee Cheng and Lim Chee Meng. The consideration equates to about RM65 psf.
Sapura Industrial had said the disposal would enable the group to realise capital appreciation from the land, which it had held as an investment for seven years, unlock the value of a non-core asset, and convert it into funds for working capital and capital expenditure to expand its production lines.
In its Dec 24, 2025 announcement, Sapura Industrial said the land had a net book value of RM16.69 million and a market value of RM25 million, based on a valuation by Raine & Horne dated Nov 19, 2025. The company also said at the time it expected to record a gain on disposal of about RM6.7 million upon completion, although the final gain could differ depending on transaction costs and accounting treatment.
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