PETALING JAYA: Signature International Bhd
’s proposal to dispose of its Bandar Enstek land in Negri Sembilan is a positive move as it will help the company in terms of interest savings and future dividend payments.
The kitchen cabinet and wardrobe manufacturer had said the RM54.6mil in proceeds raised from the land disposal would be used to repay bank borrowings and as working capital to purchase raw material.
Signature on Monday announced that it had entered into three conditional sale and purchase agreements with Ace Logistic Sdn Bhd for the proposed disposal of three parcels of freehold land at Bandar Enstek, measuring a combined 1.25 million square feet, for a total cash consideration of RM54.6mil.
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