Darco Water Technologies to Dispose of Vacant Factory in Malaysia

MT Newswires05-15

Darco Water Technologies (SGX:BLR) subsidiary Darco Water Systems agreed to dispose of a piece of freehold industrial land in Malaysia to Meda Renovation for 1.3 million ringgit, according to a Wednesday filing with the Singapore Exchange.

The land comes with a single story semi-detached factory which has a gross floor area of around 669 square meters. It is located at 117 Jalan Nilai 3/12, Kawasan Industri Nilai 3, 71800 Nilai, Negeri Sembilan.

The factory was vacant and was not income generating, the filing said.

Proceeds raised from the disposal will be used to pay off the mortgage loan of the factory and for working capital needs.

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