PMBT sells Klang land for RM79mil

PETALING JAYA: PMB Technology Bhd (PMBT) is disposing of a piece of leasehold land measuring 113,312 sq m in Klang, Selangor to Knauf Sdn Bhd for RM79.28mil.

In a filing with Bursa Malaysia, PMBT said the proposed disposal will enable the group to unlock capital resources from being tied up in long-term assets and realise the property at a fair market value, while enhancing the group’s liquidity and strengthening its financial position.

“The proposed disposal is expected to contribute a net gain of approximately RM51mil to the group, of which will increase the earnings per share of the group for the financial year ending Dec 31, 2024.”

PMBT said the proposed disposal will reduce its gearing ratio to 0.84 times from 0.89 times previously.