Energy infrastructure group Wasco Bhd is selling a parcel of land with storage buildings in Shah Alam to Array Metal (M) Sdn Bhd for RM40 million.
The freehold land measures 18,363 sq m along Jalan Bukit Kemuning in Section 34.
Wasco spent RM10.19 million on acquisition and related costs, with a carrying value of RM7.43 million as of end-2022.
The disposal is expected to generate a one-off net gain of approximately RM31.8 million.
Wasco plans to use RM30.5 million for working capital and RM7 million for debt repayment. The completion of the disposal is expected in the current quarter.