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UDS Captial to dispose assets to WS Marketing
by hlk Mon 29 Aug 2011, 19:01
UDS Capital Bhd's wholly-owned subsidiary, U.D Panelform Sdn Bhd (UDP), disposed of a plot of industrial land together with
warehouse cum office building today, to WS Marketing Sdn Bhd for RM2 million.
The 99-year leasehold industrial land, together with a single
storey detached warehouse cum double storey office building, is situated in Banting, Selangor.
In a filing to Bursa Malaysia, it stated that the 10 per cent deposit upon execution of the sale and purchase agreement, would be paid directly to UDP.
UDS said the disposal activity is in line with the group's current policy of reducing the non-core assets.
The disposed property became non-core property after it closed the Banting branch.
"The money is expected to be utilised mainly for repayment of bank borrowings of about RM300,000 with the balance as UDP's working capital," it added. -- Bernama
warehouse cum office building today, to WS Marketing Sdn Bhd for RM2 million.
The 99-year leasehold industrial land, together with a single
storey detached warehouse cum double storey office building, is situated in Banting, Selangor.
In a filing to Bursa Malaysia, it stated that the 10 per cent deposit upon execution of the sale and purchase agreement, would be paid directly to UDP.
UDS said the disposal activity is in line with the group's current policy of reducing the non-core assets.
The disposed property became non-core property after it closed the Banting branch.
"The money is expected to be utilised mainly for repayment of bank borrowings of about RM300,000 with the balance as UDP's working capital," it added. -- Bernama
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