How will Utusan use the RM13.5 million from the sale?

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Utusan Melayu to Allocate RM13.5 Million from Property Sale Towards Working Capital Needs

Utusan Melayu (Malaysia) Bhd will utilise the RM13.5 million proceeds from the sale of its factories in Taman Shamelin Perkasa to fund its working capital requirements. This includes financing the group's daily operations, covering payments to creditors, and managing administrative and other operating expenses. The company expects the disposal to be completed in the first quarter of 2020.
Property Disposal Details

Utusan Melayu, through its wholly-owned subsidiary Utusan Publications & Distributors Sdn Bhd, has entered into an agreement to sell two adjoining semi-detached factories located in Taman Shamelin Perkasa. The transaction is with Magna Mahsuri Sdn Bhd and is valued at RM13.5 million. This strategic move is intended to unlock the immediate value of these properties.
Allocation of Net Proceeds

The net proceeds derived from this property disposal are earmarked for enhancing the group's working capital. Specifically, the funds will be directed towards supporting the company's day-to-day operations. This encompasses essential expenditures such as settling dues to creditors, covering administrative costs, and meeting other operational expenses.
Anticipated Completion Timeline

The proposed disposal of the factories is projected to be finalised within the first quarter of 2020. This timeline indicates the expected period for the transaction to be fully concluded and the funds to become available for Utusan Melayu's operational needs.

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How will Utusan use the RM13.5 million from the sale?

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