MSM International Cancels MYR23.5 Million Property Sale to Plustech
MSM International has canceled its MYR23.5 million property sale to Plustech Engineering and Construction after receiving a higher offer. The termination was formalized through a deed of revocation, with no claims against each other. MSM Metal Industries will now focus on developing Property 1 in Cheras, Selangor, Malaysia, which includes building two factory units. Additionally, a new MYR15.0 million construction deal with Plustech has been signed, with one unit already sold to Pusat Pakaian Hari-Hari for MYR18.0 million.
MSM International terminated its 23.5 million Malaysian ringgit property sale deal with Plustech Engineering and Construction after securing a higher offer, according to a Monday filing on the Singapore Exchange.
MSM's unit, MSM Metal Industries, signed a deed of revocation on Monday with Plustech, terminating both the sale and construction agreements. Neither party will have claims against the other.
MSM Metal will now develop Property 1 in Cheras, Selangor, Malaysia, by building two factory units.
A new 15.0 million ringgit construction deal with Plustech has been signed, and one unit has already been sold to Pusat Pakaian Hari-Hari for 18.0 million ringgit.
