KUALA LUMPUR: Mudajaya Group Bhd is disposing of four parcels of freehold land in Ijok, Selangor, for RM36.8 million in a bid to unlock value from non-core assets and strengthen its cash position.
The group’s unit Mudajaya Corp Bhd has signed a sale and purchase agreement with Serba Wangi (KL) Sdn Bhd for the land located along Bukit Badong Road, Mukim Ijok.
The transaction, to be carried out on a “willing buyer, willing seller” basis, involves 7.99 hectares of mixed industrial and agricultural land.
“No formal valuation was commissioned for this transaction,” the group said in a Bursa Malaysia filing today.
Mudajaya expects the disposal to result in a gain of RM24.06 million for the financial year ending Dec 31, 2025, and reduce its gearing ratio from 1.19 times to 1.13 times.
“The proposed disposal forms part of the group’s strategic initiative to monetise its non-core assets and unlock value while strengthening its cash position to meet working capital requirements and other operational needs,” the company said.
The net proceeds from the sale, after deducting related fees and expenses, will be channelled towards working capital and potential investment opportunities aligned with the group’s long-term objectives.
The transaction is expected to be completed in the first quarter of 2026. Upon completion, Mudajaya’s net assets per share are projected to rise slightly from 21 sen to 22 sen.
© New Straits Times Press (M) Bhd
