KUALA LUMPUR: Artroniq Bhd ’s 60% owned subsidiary, Fujim Digital Sdn Bhd has proposed to dispose of a piece of land in Ayer Itam, Penang and a unit of the single-storey semi-wooden house in Penang for RM1.8mil.
In a filing with Bursa Malaysia, Artroniq said the build-up area of land and property are approximately 6,011 square feet.
Fujim acquired the property in August 2018 with a cost of investment of RM1.5mil.
Artroniq said the proceeds from the proposed disposal will be utilised to discharge any charges created on the property and the balance for working capital.
“The proposed disposal enables the company to reduce the capital employed and pare down the company’s borrowings,” it said.