Low-profile Unico Holdings Bhd has put five factories located in Prai Industrial Park, Seberang Prai, up for sale via tender. The factories, currently tenanted, span a total land area of about 9.6 acres and are strategically positioned near the Penang Bridge exit on the mainland.
According to Raine & Horne International (Penang) branch manager Lee Wen Tat, the properties are estimated to carry a combined market value of around RM75 million. The factories generate an annual gross rental income of about RM3.8 million.
Ownership records reveal that IPC Global Sdn Bhd, Unico Technology Sdn Bhd, Geok Hong Sdn Bhd, Fortune Century (M) Sdn Bhd and Jantron Sdn Bhd own the factories. Geok Hong Sdn Bhd holds full ownership of the other four companies, while Unico Holdings fully owns Geok Hong.
Unico Holdings and its subsidiaries are involved in property development and rental of land and buildings. The five companies share three common directors — Datuk Tan Huat Sheng (group managing director of Unico Holdings), Teoh Seng Kar (executive director) and Wong Choong Yee (company secretary).
The tender exercise, managed by Henry Butcher Real Estate (Penang), will be conducted on an “as is where is” basis and closes on Oct 21. Henry Butcher declined to comment, while Unico Holdings has yet to respond.
Lee notes that Prai Industrial Park remains one of Penang’s established industrial hubs. “It continues to attract multinational corporations, supported by strong infrastructure and strategic connectivity via the Penang Bridge, North-South Expressway, Penang Airport and Penang Port. This makes it a preferred location for industries such as semiconductors, electronics assembly and logistics,” he said.
Market data indicates that industrial properties in the area have transacted at between RM60 and RM220 per sq ft, depending on factors such as size, building condition, age, and lease tenure. Citing JPPH records, Lee highlighted eight transactions recorded in 2024–2025, including a major deal in early 2024 along Lorong Perusahaan 8, where a 653,398 sq ft site with 11 years left on its lease sold for RM39.8 million, or RM61 psf.
For the financial year ended March 31, 2025 (FY2025), Unico Holdings posted revenue of RM3.84 million, up slightly from RM3.66 million the previous year, with net profit rising to RM616,247 from RM204,473 in FY2024. All revenue was derived from lease income.
The company’s largest shareholder is Yeong Cheong Thye @ Yeong Yue Chai, who holds a combined direct and indirect stake of 12.71% and also serves as adviser to the group.
