WTK Holdings Bhd has announced plans to divest three industrial leasehold properties located in Seberang Perai Tengah, Penang, in a transaction valued at RM38 million. The company’s wholly-owned subsidiary, Loytape Industries Sdn Bhd, entered into a sale and purchase agreement with NationGate System Sdn Bhd for the disposal.

The properties involved cover a total land area of 265,003 square feet and consist of two parcels that include factory, office, and ancillary buildings, as well as one parcel of vacant land. According to WTK, the disposal price of RM38 million represents a 15.5% premium over the combined market valuation of the properties, which stood at RM32.9 million.

Following the transaction, WTK expects an estimated net pro forma gain of RM30.46 million. This figure takes into account the properties' audited net carrying amount and estimated real property gains tax. The sale is part of the company's efforts to optimize its asset portfolio and enhance financial performance.

The disposal agreement has been officially submitted to Bursa Malaysia and reflects WTK’s strategic move toward asset reallocation within its investment portfolio. Further details on the timing of the transaction’s completion have not been disclosed.