<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 13): Kitchen cabinet manufacturer Signature International Bhd (KL:<a href="/askedge/klse/7246" class="ce-stock" target="_blank">SIGN</a>) is selling two parcels of freehold land within an industrial park Techpark @ Enstek Phase 2 in Negeri Sembilan for RM25.7 million cash or RM59 per sq ft.</p></div>

<div class=newsTextDataWrapInner><p>The company said in a bourse filing on Monday that the proceeds of the land disposal will be utilised to pay intercompany loan and bank borrowings. It estimated to register a gain of RM3.71 million.</p></div>

<div class=newsTextDataWrapInner><p>The group said it bought the 10 acre land for RM14.24 million back in 2014, which are not used for any of the group’s business operations and are non-core assets.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The land was acquired in 2014 for future development of a new manufacturing facility that was expected to take up approximately 28-acres of space, with the remaining land held for long term investment purposes.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>However, the expansion plan did not materialise and as such, the parcels of land remained vacant, Signature said.</p></div>

<div class=newsTextDataWrapInner><p>The sale is expected to be completed by the first quarter of 2025.</p></div>

<div class=newsTextDataWrapInner><p>At Tuesday’s closing, shares in Signature International closed up one sen or 0.8% to RM1.28, giving it a market capitalization of RM826.24 million.</p></div>


Kitchen cabinet manufacturer Signature International Bhd (KL:SIGN) is selling two parcels of freehold land within an industrial park Techpark @ Enstek Phase 2 in Negeri Sembilan for RM25.7 million cash or RM59 per sq ft.

Signature International sells Techpark land for RM25.7 mil

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<p><em>From left: RC Distribution Services Sdn Bhd chief financial officer Dorothy Tan, M&amp;M Ventures Holdings Sdn Bhd director Yuki Yu, Sportizza Sdn Bhd director CY Chiew, M&amp;M Ventures director Terence Kwok, M&amp;M Ventures chief operating officer Chris Stanley, M&amp;M Ventures MD Dominic...