KUALA LUMPUR (March 11): The joint venture between Ann Joo Resources Bhd (KL:ANNJOO) and Transyear Sdn Bhd has secured a deal to sell a 60.1-acre industrial land in Gurun, Kedah, for RM117.81 million cash. The industrial plot is valued at RM45 per square foot, according to Ann Joo’s bourse filing. Ann Joo said in its bourse filing that it expects to receive RM65.4 million for its share of proceeds from the land sale. The steel manufacturer noted that the land sale is expected to enhance the group’s future cash flow and earnings visibility. Financially, Ann Joo had RM107.25 million in cash against RM1.1 billion in short-term and RM171.38 million in long-term borrowings as of Dec 31, 2025.

Source: The Edge Markets March 11, 2026 12:27 UTC