PETALING JAYA: Mui Properties Bhd’s indirect 60%-owned subsidiary West Synergy Sdn Bhd will dispose of a 49,725 sq m freehold land within Springhill Industrial Park, Negri Sembilan, to Antmed Malaysia Sdn Bhd for RM18.73mil in cash.

In a filing with Bursa Malaysia, Mui Properties said West Synergy is a 60%-owned subsidiary of Peristal Enterprise Sdn Bhd, which in turn is a wholly-owned subsidiary of Mui Properties.

Mui Properties said the original cost of investment of the land was RM497,902 on Jan 25, 1995. The audited net book value of the land as of June 30, 2025 is RM4.4mil.

The proposed disposal is expected to result in a gain on disposal of RM10,866,000 (profit after taxation).

Mui Properties said the proposed disposal builds on the group’s 2024 strategy of positioning Bandar Springhill as a medical hub.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.