PETALING JAYA (July 4) — Paragon Globe Bhd has successfully completed the disposal of a freehold industrial land parcel in Tanjung Kupang, Johor Bahru, for RM64.47 million, marking the conclusion of a transaction first announced in late 2025.
In a Bursa Malaysia filing, the company confirmed that its wholly owned subsidiary, PGB Landmark Sdn Bhd, has completed the sale of the freehold land to GSP Automotive Malaysia Sdn Bhd in accordance with the terms and conditions set out in the Sale and Purchase Agreement (SPA).
The land, held under HS(D) 306837 PTD 3003 in the Mukim of Tanjung Kupang, covers approximately 5.4451 hectares and forms part of the company's property assets in Johor.
Transaction Successfully Finalised
The proposed disposal was initially announced on Dec 4, 2025, as a non-related party transaction under Chapter 10 of Bursa Malaysia's Main Market Listing Requirements.
With the completion now confirmed, ownership of the land will be transferred to GSP Automotive Malaysia, officially concluding the transaction.
The latest announcement did not disclose any additional information regarding the intended use of the land or further financial implications, focusing solely on confirming that the disposal has been completed.
Strengthening Corporate Asset Management
Property developers and landowners frequently dispose of selected land assets as part of their capital management and business strategies. Such transactions allow companies to unlock the value of their land holdings, improve liquidity and reallocate financial resources towards future developments or business expansion.
The completion of this transaction reflects Paragon Globe's continued execution of its corporate asset management initiatives while maintaining compliance with Bursa Malaysia's listing requirements.
Key Takeaways
This article helped me understand that completing a land disposal involves several stages, from announcing the proposed transaction to fulfilling the terms of the Sale and Purchase Agreement before officially completing the sale. I also learned that Bursa Malaysia requires listed companies to disclose significant asset transactions to ensure transparency for investors. In addition, land disposals can form part of a company's broader strategy to optimise its asset portfolio, strengthen cash flow and support future business or property development opportunities.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 5 Jul 26
Malaysia