YLI liquidates Penang factory for RM14mil

PETALING JAYA: YLI Holdings Bhd’s wholly owned subsidiary, Yew Lean Foundry & Co Sdn Bhd, has agreed to dispose of a single-storey detached factory in Seberang Perai Tengah, Penang, to FR Development Asia Sdn Bhd for RM14mil in cash, as the group seeks to bolster working capital and fund future business ventures.

The leasehold property, which sits on a 154,424 sq ft industrial site and is currently used for storage, was independently valued at RM11mil as at March 27, 2026.

The disposal price was negotiated on a willing-buyer, willing-seller basis after taking the valuation into account.

Under the sale and purchase agreement signed yesterday, the purchaser will pay a 10% deposit, with the remaining 90% payable before the completion period expires.