Hextar Technologies to sell Johor warehouse, proceeds earmarked for fintech business

• The sale of the property to an investment firm, Airique Property Sdn Bhd, is expected to be completed by the third quarter of 2025, with an estimated net pro forma gain of RM4.96 million accruing to Hextar Technologies, according to a bourse filing on Wednesday.

KUALA LUMPUR (April 14): Hextar Technologies Solutions Bhd (KL:HEXTECH) said the group is selling a three-acre industrial land together with a warehouse and office building in Pasir Gudang, Johor, for RM16 million.

The sale of the property to an investment firm, Airique Property Sdn Bhd, is expected to be completed by the third quarter of 2025, with an estimated net pro forma gain of RM4.96 million accruing to Hextar Technologies, according to a bourse filing on Wednesday.

Hextar Technologies added that the sale proceeds will primarily be used to invest in its fintech mobile super-application, MoneyX, focusing on software development and user acquisition promotion.

For the nine months ended Dec 31, 2024, Hextar Technologies’ net loss widened to RM15.98 million from RM6.48 million a year ago, as its total revenue fell 9.6% to RM126.98 million from RM140.5 million in 9MFY2023.

As at end-2024, the group held cash balances of RM9.34 million compared to total borrowings of RM22.31 million.

Shares of Hextar Technologies fell one sen or 0.9% to RM1.09 on Wednesday, giving the group a market capitalisation of RM2.24 billion. Year-to-date, the stock has fallen 11.4%.

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