13.04.2015

Tat Hong sells Malaysian premises

Tat Hong has sold the premises of its subsidiary Malaysian crane rental operation Tat Hong Plant Hire in Kuala Lumpur, following the relocation of its operations.

The premises in Shah Alam include a 8,166 square metres plot, with two storey industrial building, and have been purchased by Hiro Food Packages Manufacturing for RM$17.5 million ($4.7 million).

Tat Hong Plant Hire has relocated its core crane rental operations to larger premises in Kulaijaya, Johor, South Malaysia, which was acquired last year. The rationale for that was to accommodate the company’s expanded operations, reduce operational costs and to better serve its customers, many of whom are engaged in projects in the southern part of West Malaysia. As a result of the relocation, it says that it no longer needs the facilities in Shah Alam.

The premises have a book value of RM6.1million ($1.65 million) providing a gain of RM11.5 million ($3.1 million) after deducting expenses.
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Tat Hong Plant Hire facility near Kuala Lumpur