Mah Sing Unit To Dispose Of Dengkil Land For RM618 Mln

KUALA LUMPUR, Aug 20 (Bernama) -- Mah Sing Group Bhd’s wholly owned subsidiary Southville City Sdn Bhd has entered into a conditional sale and purchase agreement with WG Malaysia X Sdn Bhd for the proposed disposal of 31.88 hectares of land in Dengkil, Selangor, worth RM617.86 million.

In a filing with Bursa Malaysia, the company said the proposed disposal, which is expected to be completed in the second half of 2027, is consistent with Mah Sing’s strategy of selectively monetising development-ready land to unlock value and recycle capital into future growth opportunities. 

“The proposed disposal will enhance the group’s financial flexibility and provide additional capital for property development, strategic landbanking and other growth opportunities.

“(It will) support Mah Sing’s broader digital infrastructure strategy and the continued development of Mah Sing DC Hub @ Southville City,” it said.

Besides, Mah Sing said the cash proceeds from the proposed disposal are intended to be utilised for the remaining infrastructure works and expenses related to the proposed disposal, working capital, and future development and investment activities of the group, including opportunities under Mah Sing’s digital infrastructure strategy. 

The proposed disposal is not expected to have a material effect on the net assets and gearing of the group, it added.

-- BERNAMA