KUALA LUMPUR (July 28): Sheet metal products maker BWYS Group Bhd (KL:BWYS) is disposing of 8,729 square metres of freehold land in Butterworth for RM11.28 million.
The sale of the land to Hung Shang Property Sdn Bhd is in line with its strategy to monetise non-core assets, enhance liquidity and reallocate resources towards expanding its core business, the company said in a filing with Bursa Malaysia on Monday.
The land, which is currently vacant, was valued at RM8.5 million in June by independent valuer Rahim & Co International Sdn Bhd.
BWYS said the disposal, expected to be completed in the fourth quarter of 2025, is expected to generate a gain of about RM2.28 million after accounting for the net book value, incidental costs and real property gains tax.
“The net proceeds from the proposed disposal...will be utilised to strengthen the working capital reserve to support operational needs, and to invest in other opportunities aligned with the group’s long-term objectives,” it said.
BWYS, which debuted on the ACE Market in July 2024, is involved in the manufacturing of sheet metal products comprising roofing sheets and trusses, industrial racking systems and welded pipes. It also supplies scaffolding and trades in steel materials and related products.
Its shares closed up one sen or 4.44% at 23.5 sen on Monday for a market capitalisation of RM240.9 million.