Acme to dispose of Penang land for RM22mil
In a filing with Bursa Malaysia, Acme noted the leasehold industrial land and development thereon original cost of investment was RM9.2mil.
It added the net book value of the property as at March 31, 2024 of RM3.75mil while the market value as appraised by Henry Butcher Malaysia (Seberang Perai) Sdn Bhd was RM21mil as of valuation date of July 23, 2024.
The deal will allow Acme to book disposal gains of RM14.14mil. The sale is expected to be completed by the second half of 2025. Acme intends to use RM12mil of the sale proceeds to repay bank borrowing while another RM5.9mil will be utilised to repay trade creditors and for working capital requirements. - Bernama
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