Amtek Holdings disposes of Amtek Realty for RM4.6 million

KUALA LUMPUR: Amtek Holdings Bhd has disposed of its unit Amtek Realty Sdn Bhd for RM4.6 million.

In a filing to Bursa Malaysia on April 2, the company said the entire equity in Amtek Realty, comprising five million shares of RM1 each, was sold to Commerce Dot Com Sdn Bhd on the same day.

Amtek Realty owns Wisma Amtek, a 6½-storey office building with a 2-storey warehouse annexe, basement car park and a guardhouse with a total gross built-up area of about 172,653 sq ft on a 1.85-acre leasehold land.

Presently, Amtek Holdings and its subsidiaries occupy part of the 4th floor of the 18-year-old Wisma Amtek as its corporate office. The warehouse is used for the storage of the company’s stocks. The other floors of Wisma Amtek are presently rented to various tenants.

“The proposed disposal is expected to result in a net gain on disposal of approximately RM1.4 million,” Amtek Holdings said.

Wisma Amtek was purchased by Amtek Realty on April 30, 2003, for RM18.2 million.
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.