If you are watching industrial property in Puchong, the useful number in Ajiya Bhd's latest disposal is about RM398 psf on land area. That is what the RM58,000,000 cash price works out to for its freehold factory and office property at Taman Perindustrian Puchong Utama.
Ajiya Safety Glass Sdn Bhd signed the sale and purchase agreement with Esprit Care Sdn Bhd on 1 October 2026, according to Bursa-reported details carried by DagangNews. The site measures 13,536 sq m, or about 145,700 sq ft, and contains a single-storey factory with a two-storey office block. Gross built-up area was reported at about 9,839.52 sq m.
The sale price is not just a headline number. Ajiya said CBRE WTW Valuation & Advisory Sdn Bhd valued the property at RM40,000,000 as at 10 September 2026, with RM27,000,000 attributed to land and RM13,000,000 to buildings. The agreed RM58,000,000 price is therefore about 45% above that valuation. On the same land area, the valuer's figure is roughly RM275 psf, while the sale price is roughly RM398 psf.
For owners of older factories around Puchong, that gap matters more than the company name. It suggests buyers are still willing to pay above book valuation for usable industrial premises in established locations, especially where the asset can be absorbed without waiting for a new build.
Ajiya expects a pro forma gross gain of RM25,450,000, after deducting the property's RM37,030,000 net book value as at 31 December 2025 and adding back RM4,480,000 in deferred tax liabilities. The group said production capacity previously tied to the property has already been consolidated into its main facility, so the sale is not expected to materially disrupt daily operations or manufacturing output.
The proceeds are earmarked for working capital, expansion initiatives, potential business activities and possible dividend distribution. Ajiya said it aims to use the proceeds within 12 months after completion. The deal still needs the relevant state authority consent for the transfer, but it does not require shareholder approval, and completion is expected in the first quarter of 2027 if conditions are met.
Sources: Bursa Malaysia company announcements, DagangNews, The Star.
