Leader Steel shareholders approve RM136.6 mil Klang land disposal

PETALING JAYA (July 23): Shareholders of Leader Steel Holdings Bhd have approved the proposed disposal of a freehold industrial land in Kapar, Klang for RM136.56 million at an extraordinary general meeting (EGM) held on Monday.

The sole ordinary resolution, which sought approval for the disposal by the group's wholly owned subsidiary Ferronet Asia Sdn Bhd to WG Malaysia VIII Sdn Bhd, was passed by way of poll, according to a Bursa Malaysia filing on Monday (July 20).

A total of 22 shareholders representing 18.66 million shares voted in favour of the resolution, with 100% of votes cast supporting the proposal. No votes were cast against it.

The poll results were independently verified by Commercial Quest Sdn Bhd, the company's appointed scrutineer.

The proposed disposal involves a parcel of freehold land held under H.S.(D) 166443, PT 85118 in Mukim Kapar, Klang, Selangor, for a cash consideration of RM136.56 million.

Leader Steel had sought shareholders' approval for the transaction through a notice of EGM dated July 3. The company did not disclose any further updates on the completion timeline in Monday's announcement.

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