KUALA LUMPUR (Sept 28): GUH Holdings Bhd (KL:GUH) has received the fourth and final compensation payment for the transfer of its industrial land in Suzhou, China, to the Chinese government for 195 million yuan (RM114.9 million).
In a filing with Bursa Malaysia on Monday, the electronic circuit board maker said its wholly owned subsidiary GUH Circuit Industry (Suzhou) Co Ltd received 30.001 million yuan (RM23.72 million) from the Suzhou government.
The payment follows a compensation agreement entered into with the Suzhou High-Tech Zone Shishan Business Innovation District Management Office (SHZ Management Office) for the compulsory disposal of 53,324.56 sq m of industrial land in February 2025.
The total compensation for the land was 195 million yuan, equivalent to about RM114.9 million based on the exchange rate stated by GUH.
GUH had previously said the disposal was part of the urban development of Suzhou.
The group’s Suzhou venture was valued at RM12.84 million as at Dec 31, 2024, and GUH had said it expected to recognise a pro forma gain of RM95.31 million from the disposal.
The company’s shares closed unchanged at 26 sen, valuing the company at RM74.1 million. Year to date the stock is down 17.46%.