PETALING JAYA: Ajiya Bhd

is disposing of two adjoining parcels of vacant industrial land measuring 64,069 sq m in Negri Sembilan to Kumkang Kind (M) Sdn Bhd and Asia Roofing Industries Sdn Bhd for RM51.9mil.

In a filing with Bursa Malaysia, the building materials manufacturer said the disposals represent an opportunity for the group to unlock and realise the value of its non-core assets.

“The proceeds from the disposals will enhance the group’s liquidity position and strengthen its financial flexibility,” it said.

Ajiya said this will enable the group to meet its working capital requirements and support its strategic business expansion plans.