LKL sells land in Serdang for RM7mil

PETALING JAYA: LKL International Bhd’s wholly-owned subsidiary, LKL Advance Metaltech Sdn Bhd (LKLAM), has entered into a sale and purchase agreement with 8 Food Avenue Sdn Bhd for the disposal of a freehold land, including a three-storey semi-detached factory for RM6.9mil

The land is located in Seri Kembangan, Selangor and measures 972.93 sq m.

In a filing on Bursa Malaysia, LKL noted the proposed disposal is a strategic move to unlock its value and generate surplus cash.

LKL intends to enhance its liquidity position and support its main business activities by reallocating these funds towards working capital and prospective investments.