TBKS HLDGS (01960) announced that on April 24, 2025, the seller Tan Bock Kwee & Sons Sdn. Bhd. (an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyer Zhongya Holdings (Malaysia) Sdn. Bhd., whereby the seller agreed to sell and the buyer agreed to purchase the property for a total consideration of RM 11.4624 million.

As of the announcement date, the disposal was completed on August 25, 2025, and the full consideration has been paid by the buyer to the seller in accordance with the agreement.

The group holds the entire interest in the property through the seller. The property is located in Johor, Malaysia, comprising four pieces of vacant light industrial land with permanent titles, covering a total area of approximately 12,101 square meters.

The property was previously mortgaged to a Malaysian bank as security for the seller's banking facilities. The mortgage has been released by the bank to facilitate the sale, subject to the condition that RM 1 million from the disposal proceeds will be pledged as security for the seller's banking facilities upon completion of the disposal.

The company is an investment holding company whose subsidiaries are principally engaged in the provision of civil and structural engineering services in Malaysia and China, and trading of petroleum and related products in China.

Taking into account the group's current financial position and expected liquidity requirements, as well as the prospects of the Malaysian property market, the directors believe that the disposal represents a good opportunity for the company to realize the value of the property (which was vacant at the time of disposal) at a reasonable price. The proceeds from the disposal can generate additional working capital, thereby enhancing the group's financial position and strengthening liquidity.

The board of directors (including independent non-executive directors) considers that the terms and conditions of the disposal were entered into on normal commercial terms and are fair and reasonable and in the interests of the company and its shareholders as a whole.