Topmix completes RM1.85m sale of Senai industrial property
Topmix Bhd has completed the RM1.85 million cash sale of a freehold industrial property in Senai, Johor, to PMI Packaging Sdn Bhd. The payment marks the finalisation of the disposal by its wholly owned subsidiary, Topmix Resources Sdn Bhd, after an extended completion period.
PETALING JAYA (Nov 3): Topmix Bhd has completed the RM1.85 million cash sale of a freehold industrial property in Senai, Johor, following receipt of the balance sale consideration. In a Bursa Malaysia filing on Monday (Nov 2), the company said the payment marked the completion of the disposal by its wholly owned subsidiary, Topmix Resources Sdn Bhd, to PMI Packaging Sdn Bhd.
The property comprises approximately 0.0993 hectares (0.245 acres) of freehold industrial land together with a 1½-storey semi-detached factory at No. 573, Jalan Idaman 3/7, Taman Perindustrian Senai. It is held under HS(D) 58359, PTD 103154, Mukim Senai, Johor.
Topmix Resources signed the sale and purchase agreement on April 6. On Sept 23, Topmix announced that the parties had agreed to extend completion to the fourth quarter of 2026, as the balance consideration remained outstanding pending processing and release by the purchaser's bank.
According to the April announcement, the property had been held as an investment and leased to a third party for warehouse use. After the tenant vacated the property in September 2025, the board considered selling the non-core asset.
Under the proposed proceeds allocation disclosed in April, RM1.458 million was earmarked for working capital, RM264,000 for repayment of bank borrowings and RM128,000 for estimated disposal expenses. Each allocation was expected to be utilised within three months of completion.
The company said the RM1.85 million sale price was negotiated on a willing-buyer, willing-seller basis, taking into account the highest offer received through an invitation for offers to purchase the property. The price represented a premium of approximately 2.8 per cent to the RM1.8 million indicative value provided by KGV International Property Consultants (Johor) Sdn Bhd. Topmix said no formal valuation had been conducted.
