Miyoshi (SGX:M03) through its wholly owned subsidiary, Miyoshi Precision (Malaysia), has agreed to sell a piece of freehold land and a unit of a factory located in Malaysia to Platinum Rise for around 14.0 million ringgit.

The freehold land has an area of around 6,687 square meters and the factory located in Skudai, Johor, is part of the freehold land, according to a bourse filing with the Singapore Exchange on Wednesday.

10% of the consideration was paid upon the execution of the agreement.

Miyoshi shares were down nearly 2% in recent trade.

Price (SGD): S$18276.65, Change: S$-300, Percent Change: -1.60%