Miyoshi Limited Completes RM14 Million Property Sale in Johor
Summary:
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Transaction Finalized: Miyoshi Limited has completed the sale of a freehold land parcel and factory unit in Johor, Malaysia, through its subsidiary, Miyoshi Precision (Malaysia) Sdn. Bhd.
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Property Details: The assets sold include a 6,687 square meter land parcel (Geran 441162 Lot 24335) and a factory located at No. 4, Jalan Wira 3, Taman Tan Sri Yaacob, 81300 Skudai, Johor.
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Sale Consideration: The aggregate consideration for the disposal is RM14 million (approximately S$4.27 million), as stipulated in the Sale and Purchase Agreement (SPA).
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Strategic Rationale: The disposal aligns with Miyoshi Limited's strategy to optimize its asset portfolio and reallocate resources to core business operations.
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Regulatory Compliance: The transaction was completed in accordance with the terms and conditions outlined in the SPA, following prior announcements and shareholder circulars issued in October and December 2024.