TEXCYCL 0089 TEX CYCLE TECHNOLOGY (M) BERHAD to sell two factories for RM19 mil
KUALA LUMPUR (Jan 10): Tex Cycle Technology (M) Bhd has proposed to dispose of two detached factories in Puchong for RM19 million, noting that they have increased in value since their acquisition in 2004.
“The proposed disposal is expected to result in a gain on disposal of approximately RM13.72 million,” the group said in a Bursa Malaysia filing.
The group is selling the two-storey and one-and-half-storey factories, located on leasehold land in Taman Perindustrian Kinrara, to Sedaya Rasmi (M) Sdn Bhd.
The total land area of the properties — which are used as storage facilities — is 4088.63 sq metres, said Tex Cycle.
It added that proceeds from the disposal would be used for general working capital requirements in respect of its day-to-day operations to support its existing business operations.
These include the payment of staff costs, payment to suppliers, monthly overhead expenses, rental, utilities, as well as current and future investments in the pipeline.
“The actual breakdown of these expenses and the timeframe for full utilisation of the proceeds cannot be determined at this juncture, as it will depend on the actual working capital requirements of the company at the relevant time,” Tex Cycle said.
The group expects the disposal to be completed in three months.
On Tuesday (Jan 10), Tex Cycle’s share price was up 19 sen or 43.68% at 62.5 sen — the highest since Jan 6, 2022, when it closed at 59.6 sen.
At the current price, the group has a market capitalisation of RM158.21 million.
http://www.theedgemarkets.com/node/651243
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Portfolio (June 30, 2025)1 day ago
-
Portfolio (June 30, 2025)1 day ago
-
-
-
-
-
-
-
-
-
Month of June 20251 day ago
-
June 2025 Updates1 day ago
-
-
-
-
-
-
-
-
Batisht crazy!4 days ago
-
-
Will SORA crash to 1 per cent?5 days ago
-
-
-
-
Hello world!6 days ago
-
-
-
Cut back some exposure1 week ago
-
-
-
-
-
-
8 tips for house moving1 week ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
May 2025 Portfolio4 weeks ago
-
-
-
Thakral - Gem life deal finally coming?5 weeks ago
-
-
-
-
-
Clarity1 month ago
-
The Trump Tariffs1 month ago
-
Selling HRnet and Fiverr1 month ago
-
-
-
-
Ignore the noise and be calm2 months ago
-
-
-
-
FAQ on Quantitative Investing Part 22 months ago
-
-
-
-
Crossing the 300k Mark [in a volatile period]2 months ago
-
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?5 months ago
-
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!6 months ago
-
Top 10 Highlights of 20246 months ago
-
-
-
Union Square Residences8 months ago
-
-
-
STI ETF9 months ago
-
-
-
Unibet Casino Bonus Codes 20249 months ago
-
-
-
-
The Stigma against Early Retirement (FIRE)11 months ago
-
Monthly IBKR Update – June 202411 months ago
-
-
-
-
-
-
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
Hello SP Group, I'm Back!2 years ago
-
-
-
A New Light2 years ago
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment3 years ago
-
Terra Hill Condo (former Flynn Park)3 years ago
-
Alibaba VS Tencent: The Battle Royale3 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-