The company said on Bursa Malaysia that its unit PPAC (M) Sdn Bhd had on the same day entered into a sale and purchase agreement with Toh Peng Chooi Holdings Sdn Bhd for the proposed disposal ay Chulia Street in Penang.
The property is a 3-storey building with built-up area of about 3,600 sq ft.
The company added that the proceeds from the proposed disposal will be used for working capital purposes, but did not disclose a timeframe for the full utilisation of the sale proceeds.
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