Vibropower's (SGX:BJD) Malaysian unit agreed to sell a freehold industrial land parcel in Johor, Malaysia, for 17.5 million ringgit, according to a Friday Singapore Exchange filing.
The property, comprising 364 freehold land lots in Kluang, Johor, will be sold to Malaysia's SH Trading Co Kluang.
The company expects the disposal to generate an estimated post-tax gain of 1.13 million ringgit.
The transaction is subject to shareholder approval and other customary conditions, including land amalgamation and regulatory approvals, before completion.
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