Ingenieur Gudang to sell vacant factory in Nilai for RM22m

Ingenieur Gudang said the property, currently vacant and unoccupied, carried a fair value of RM16 million as at end-November 2024. The group expects a net gain of RM5.8 million from the disposal.

No formal valuation was carried out for the deal, said Ingenieur Gudang.

The group said proceeds from the sale will be used to fund general working capital as well as “potential opportunities that align with the group’s long-term objectives”.

The deal is expected to be completed by the first quarter of 2026.

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