KUALA LUMPUR, Asian Pac Holdings Bhd’s wholly owned subsidiary has entered into a sale and purchase agreement to dispose of a piece of land in Ulu Langat, Selangor, for RM88 million.
In a Bursa Malaysia filing, the group said the disposal is in line with its strategy to unlock value from non-core assets and strengthen its financial position. Proceeds from the sale will be utilised to pare down borrowings, enhance working capital, and provide additional flexibility for the group’s ongoing and future projects.
“The proposed disposal represents an opportunity for the group to realise the value of its landbank while reducing gearing and improving cash flow,” Asian Pac said.
The company noted that the transaction is not expected to have any adverse impact on its core operations, particularly in property development and investment.
Industry observers said the disposal is timely, as it allows Asian Pac to reallocate resources towards projects with stronger growth potential, while supporting its long-term balance sheet optimisation. The deal is expected to be completed within the financial year, subject to the fulfilment of conditions precedent.
