Petaling Aya:Utusan Melayu (Malaysia) BHD's stock price rose as much as 3.44% to 15 this morning morning on news of $ 18 million in industrial land sale.
At 11.36, the stock still traded at 15 Sen with 33,000 shares to make.
17 Procedure 17 (PN 17) The company said yesterday on the stock exchange that it removes a piece of industrial land measuring 7,715 square meters near its headquarters in Chan Sow Lin, Kuala Lumpur for RM18 million.
It was on 15 November entered into a conditional sale purchase agreement with a strong Skyhutch Sdn Bhd for its disposal.
The cost of the original investment in Israel was NIS 813,191 million, which was incurred on December 20, 1979. The net book value based on the last audited financial statements as of December 31, 2017 is RM196,174.00.
According to Autosan, the net proceeds from the proposed sale were intended to be partially utilized to finance working capital requirements, including payment to creditors such as suppliers and statutory debts, management expenses such as salaries and salaries and other operating expenses such as promotional activities.
He added that the proposed proposal provides an opportunity for the group to open the immediate value of the land.