PTT Synergy sells Bandar Bukit Raja factory for RM17 mil to rationalise assets

PETALING JAYA (July 10): PTT Synergy Group Bhd has proposed the disposal of a freehold industrial property in Bandar Bukit Raja, Klang, by its indirect wholly-owned subsidiary PTT Assets Sdn Bhd (PTTA) for a total cash consideration of RM17 million.

PTT said in a Bursa Malaysia filing yesterday that PTTA had entered into a sale and purchase agreement on July 9, 2026 with WDG Resources Sdn Bhd for the disposal of a double-storey detached factory on land measuring about 4,987 sq m at 18, Jalan Inai 2D/KU05, Bandar Bukit Raja, Mukim Kapar, Klang, Selangor. The factory has a gross built-up area of approximately 20,197 sq ft and is currently classified as an investment property.

The property, held under H.S.(D) 165675, PT 84377, carries industrial land use with a light industrial express condition and is freehold. It is subject to a charge registered on May 5, 2023 in favour of Hong Leong Bank Bhd. The building is about 1.5 years old, with PTTA recorded as the registered proprietor.

PTT said the disposal consideration was arrived at on a willing-buyer, willing-seller basis, with a net book value of RM15 million as at June 30, 2025 and an original investment cost of RM11.28 million. The group expects the proposed disposal to result in a gain on disposal of RM2 million. It added that the transaction forms part of its effort to rationalise non-core assets and reduce operational and maintenance costs relating to the property.

Of the RM17 million proceeds, RM11 million is earmarked for repayment of borrowings relating to the property, with the remaining RM6 million allocated for general working capital, including operating and staff costs and other administrative expenses. The proceeds are expected to be fully utilised within 12 months.

PTT said the proposed disposal will not have any effect on its share capital or substantial shareholders’ shareholdings, and is not expected to have any material effect on earnings per share. Save for the one-off gain on disposal, the proposed disposal is also not expected to have any material impact on consolidated net assets and gearing.

The proposed disposal is not subject to shareholder approval or approval from any relevant government authorities and is expected to be completed by the first quarter of the financial year ending June 30, 2027.

The group noted that none of the directors and/or major shareholders of PTT and/or persons connected with them have any direct or indirect interest in the proposed disposal. The board said it considers the proposed disposal fair and reasonable and in the best interest of the group.

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