Tomypak sells Senai land for RM31mil

KUALA LUMPUR: Tomypak Holdings Bhd has proposed to sell a 4.1369-hectare freehold land in Senai, Johor to Goldcoin Victory Sdn Bhd for RM31mil cash.

In a filing with Bursa Malaysia, the manufacturer of flexible packaging materials said its wholly-owned subsidiary, Tomypak Flexible Packaging Sdn Bhd (TFP) entered into a sale and purchase agreement with Goldcoin for the proposed disposal.

“The proposed disposal provides TFP an opportunity to realise the value of the Senai property which represents part of its idle and non-core assets, whilst providing a surplus cash flow arising from the sale,” Tomypak said.