KUALA LUMPUR (Aug 9): Harn Len Corp Bhd is selling three pieces of land together with factory buildings for RM19 million, to improve its cash flow position.
All three properties are located next to each other in Ulu Tiram, Johor. Harn Len's original cost of investment in the properties was RM18.76 million, hence it stands to record a disposal gain of about RM241,000.
It has inked a sale and purchase agreement with Jotech Metal Fabrication Industries Sdn Bhd for the disposal. Proceeds from the disposal will be used as working capital.