DNC Asiatic’s assembly plants put up for sale, says report

KUALA LUMPUR (Sept 1): Two motorcycle assembly plants belonging to DNC Asiatic Holdings Sdn Bhd have been put up for sale, according to a report by The Edge business publication.

Using estimates from sources, the weekly reported that the total worth of the plants is RM50 million.

The two plants had been charged to Malayan Banking Bhd and they are being sold to recover monies owed to the bank.

The assembly facilities are located in Kuching, Sarawak, and Banting, Selangor.

According to the same report, the properties include a light industrial asset of three blocks of four-storey buildings, three blocks of single-storey factory buildings and other ancillary buildings, located at 112, Jalan 8, Kawasan Perindustrian Olak Lempit, Banting.

The lease on the asset’s 7.791 acres expires in 2087.

The three blocks of four-storey buildings comprise an office building, an R&D centre and a training centre, while two of the three blocks of single-storey factory buildings have a floor area of 56,616 sq ft. The third factory has a floor area of 35,683 sq ft.

The facility in Kuching comprises two blocks of warehouses, two single-storey factory buildings and other ancillary buildings on a mixed-zone parcel of 4.126 acres.

The lease on the land expires in 2053.

Maybank appointed receivers and managers under the powers contained in a debenture following the cessation of operations at the assembly plants two months ago, reported The Edge.

It is learnt that work stopped after two of DNC Asiatic’s directors and its general manager disappeared about half a year ago.