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- The price tag took into account the property’s net book value at end-March 2024 of RM3.75 million, as well as market value of RM21 million as appraised by Henry Butcher Malaysia (Seberang Perai) Sdn Bhd in July 2024, Acme noted.
KUALA LUMPUR (May 16): Acme Holdings Bhd (KL:ACME) is selling a 5.86-acre parcel together with a building atop in Perai, Penang, for RM22 million cash to Nation Robo Sdn Bhd.
The proposed disposal, which Acme firmed up with Nation Robo via a sale and purchase agreement, is to unlock the property’s value and utilise proceeds to repay borrowings, according to the property developer’s bourse filing on Friday.
If the deal goes through by the second half of 2025, there would be a pro forma gain of RM14.14 million, Acme said.
Acme has earmarked RM12 million of the proceeds to repay bank borrowings, RM5.89 million to repay trade creditors and fund working capital, while the remainder will be used to defray the transaction’s expenses and taxes.
Paring the group’s borrowings will reduce its gearing and, in turn, improve cash flow, Acme said.
The price tag took into account the property’s net book value at end-March 2024 of RM3.75 million, as well as market value of RM21 million as appraised by Henry Butcher Malaysia (Seberang Perai) Sdn Bhd in July 2024, Acme noted.
Nation Robo, formerly known as Skygate F&B Sdn Bhd, is equally owned by Ooi Eng Leong and Tan Ah Geok.
Shares of Acme ended unchanged at 14 sen on Friday, valuing the company at RM51.46 million.
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