Bwys To Sell Bukit Changgang Land, Acquire Tanjong Duabelas Site
KUALA LUMPUR, Jan 22 (Bernama) -- BWYS Group Bhd will sell its leasehold industrial land with buildings in Bukit Changgang, Kuala Langat, Selangor for RM67 million and acquire freehold industrial land in Tanjong Duabelas, Kuala Langat for RM94.5 million.
The sheet metal products manufacturer and scaffoldings supplier said the proposed Bukit Changgang property disposal enables the group to unlock the value of a non-core asset and strengthen its financial position.
“The cash proceeds are expected to be utilised for, among others, repayment of bank borrowings, working capital requirements and partial funding of the proposed Tanjong Duabelas land acquisition.
“This transaction also allows the group to optimise its asset base and improve capital efficiency by reallocating resources towards higher value-added and growth-supporting initiatives,” the company said in a statement today.
Meanwhile, the proposed land acquisition aligns with the group’s long-term operational and expansion plans, providing additional capacity for future development to support the construction of new manufacturing facilities and warehouses, thereby expanding the group’s core operations.
BWYS Group managing director Kang Beng Hai said the approval of both the disposal and acquisition reflects the group’s disciplined approach to asset management and long-term planning.
“By unlocking value from a non-core asset while securing strategically located land to support future operations, the group is strengthening its balance sheet and enhancing flexibility to support sustainable growth over the longer term.
“Moving forward, the group remains focused on disciplined execution, prudent capital allocation and strengthening operational readiness, while continuing to act in the best interests of the group and its shareholders,” he said.
-- BERNAMA