<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 5): Construction outfit Ingenieur Gudang Bhd (KL:<a href="/askedge/klse/5178" class="ce-stock" target="_blank">INGENIEU</a>) said it is disposing of&nbsp; a 1.9-acre land with a factory and office in Nilai, Negeri Sembilan, for RM22 million in cash.</p></div>

<div class=newsTextDataWrapInner><p>The buyer is Baba Products (M) Sdn Bhd, a curry powder and powdered food products manufacturer. The firm is 80%-owned by Pagalavan C Rangasami and 20% by Rajasulochana Pagalavan, according to a bourse filing on Monday.</p></div>

<div class=newsTextDataWrapInner><p>Ingenieur Gudang said the property, currently vacant and unoccupied, carried a fair value of RM16 million as at end-November 2024. The group expects a net gain of RM5.8 million from the disposal.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>No formal valuation was carried out for the deal, said Ingenieur Gudang.</p></div>

<div class=newsTextDataWrapInner><p>The group said proceeds from the sale will be used to fund general working capital as well as “potential opportunities that align with the group’s long-term objectives”.</p></div>

<div class=newsTextDataWrapInner><p>The deal is expected to be completed by the first quarter of 2026.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Ingenieur Gudang ended unchanged at 2.5 sen on Monday, valuing the group at RM31.6 million.</p></div>


Construction outfit Ingenieur Gudang Bhd (KL:INGENIEU) said it is disposing of  a 1.9-acre land with a factory and office in Nilai, Negeri Sembilan, for RM22 million in cash.

Ingenieur Gudang to sell vacant factory in Nilai for RM22m

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