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- The proposed disposal is expected to generate a gain of approximately RM554,000 for the construction firm, which will be recognised as part of its financial results.
KUALA LUMPUR (April 8): Taghill Holdings Bhd, formerly known as Siab Holdings Bhd, is selling two shopoffice units in Bandar Bukit Puchong, Selangor, for a total of RM4.6 million.
According to its exchange filing on Monday, the properties are being sold by its wholly-owned subsidiary, Siab (M) Sdn Bhd, through two separate sale and purchase agreements with Plytec Formwork System Industries Sdn Bhd, the purchaser.
The properties, each consisting of a three-storey shopoffice building with a land area of approximately 163 sq m, have an audited net book value of RM1.77 million each as of Dec 31, 2024.
The market valuation for each property stands at RM2.4 million, totalling RM4.8 million, according to an independent valuation report by PPC International Sdn Bhd.
The proposed disposal is expected to generate a gain of approximately RM554,000 for the construction firm, which will be recognised as part of its financial results.
The sale proceeds will primarily be used to reduce Siab’s bank loan, with any remaining balance allocated for general working capital requirements.
Taghill Group aims to optimise its financial position through this disposal as part of its ongoing strategy for cost rationalisation and operational efficiency.
The sale is expected to be completed within three months from the date of the agreements.
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