Flonic Hi-Tec completes valuation for proposed land sale to Sun-Ecoland

KUALA LUMPUR: Ace-Market-listed Flonic Hi-Tec Bhd said it (via Kenanga Investment Bank Bhd.) had completed and submitted the final valuation report to Bursa Malaysia concerning its proposed industrial land, 2-storey office building and single-storey factory sale to Sun-Ecoland.

According to a statement on Bursa Malaysia on Feb 12, JS Valuers Property Consultants (Selangor) Sdn Bhd determined the market value of the property to be at RM7.2 million and the purchase consideration in relation to the proposed disposal remains at RM8 million.

All other terms of the proposed sale is also unchanged.

The land to be sold is a piece of leasehold industrial land, the statement added.