Ecobuilt sells Kapar land for RM5.74mil to reduce debt

PETALING JAYA: Ecobuilt Holdings Bhd has agreed to sell a piece of freehold industrial land in Kapar, Selangor, for RM5.74mil as part of its ongoing debt-reduction and financial restructuring efforts.

The company signed a sale and purchase agreement with Sintari Sdn Bhd for the 5,337 sq m vacant plot located in Sungai Kapar Indah.

The land, originally purchased in 2020 for RM5.63mil, sits under Ecobuilt’s non-core assets, and the disposal is expected to generate a modest gain of RM115,000. Proceeds will be used mainly to settle RM2.5mil in overdraft facilities and fund working capital and creditor payments over the next year.

Ecobuilt said the sale would strengthen liquidity and support its capital reduction and debt regularisation plan. The deal does not require shareholder approval and is expected to be completed within three months.