The Pacific sold the idle factory for 0.14 billion.
The Pacific $MPI (3867.MY)$ Through its subsidiary, at a price of 0.14 billion Ringgit, sold a factory located in Batu Maung, Penang along with the land to Open DC PE2 Asset Sdn Bhd.
According to the announcement, the aforementioned sold asset is situated on 0.04 million 487 square feet of land in Batu Maung Technoplex Industrial Park.
The Pacific mentioned that its subsidiary has ceased the operation of leadframe business, hence no longer requiring the above assets.
The Pacific plans to allocate 0.1 billion 25.4 million Ringgit from the proceeds for distribution to company shareholders and for deposit into financial institutions, but the proportion of distribution has not been determined yet. The remaining 14.6 million Ringgit will be used to settle the tax and expenses related to this divestment.
Source: Nanyang Siang Pau
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