BIG Industries to sell Johor land for RM4.5mil

PETALING JAYA: BIG Industries Bhd is disposing of a parcel of industrial land in Plentong, Johor, to SJ Holdings Sdn Bhd for RM4.5mil.

In a filing with Bursa Malaysia, BIG Industries said it had operated its industrial gas branch at the piece of land it is disposing of.

“As the branch continually incurred financial losses, the management decided to cease operations and thereafter dispose of the property.

“The proceeds of the proposed disposal shall be utilised as working capital and investment in the Samalaju Industrial Park branch,” it said.

BIG Industries shares closed 11% up to 70 sen yesterday.