Darco Water Technologies (SGX:BLR), through its subsidiary, Darco Water Systems, agreed to sell a freehold vacant industrial land in Malaysia to CS One Property for 4.6 million ringgit, according to a Thursday filing with the Singapore Exchange.
Shares of the company were up over 1% in Friday's trade.
The property spans a gross land area of 5,233 square meters and is a non-core asset.
Proceeds from the disposal will be used to pay off the mortgage loan of the property, secure the remaining bank facility of the vendor, and for working capital.
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