Wing Tai Malaysia Sdn. Bhd., the wholly-owned subsidiary of SGX-listed Wing Tai Holdings, has disposed of the property at No. 523, Jalan Ayer Puteh, Mukim 4, 11100 Balik Pulau, Pulau Pinang for RM5.8 million ($1.8 million).
The property, which is a factory building sited on freehold land, was sold to Meng Shin Garment Sdn. Bhd. and Keow Bee Garment Sdn. Bhd.
The consideration was paid in cash with an initial deposit of 10% followed by the balance upon the completion of the transaction.
As at Sept 20, the property’s net book value was around RM3.8 million.
Shares in Wing Tai closed 1 cent higher or 0.63% up at $1.60 on Sept 20.
