If you are tracking Penang industrial land, the useful number in WTK Holdings Bhd's latest disposal is not just RM38,000,000. It is about RM143.39 per sq ft.
WTK said its wholly owned subsidiary Loytape Industries Sdn Bhd entered into a sale and purchase agreement on 30 September 2026 to sell three industrial leasehold properties in Daerah Seberang Perai Tengah, Penang, to NationGate System Sdn Bhd for RM38,000,000 cash. The properties cover a combined 265,003 sq ft, so the land-area calculation is RM38,000,000 divided by 265,003 sq ft.
The assets are not one clean vacant tract. The Bursa announcement mirror describes three parcels of industrial leasehold land with assets erected on them. The Star reported that two parcels carry factory, office and ancillary buildings, while one parcel is vacant land.
That mix matters if you are comparing this with other Penang industrial deals. A price per sq ft based on total land area is a quick benchmark, but it is not a pure vacant-land price when buildings are part of the package.
WTK said the price represents a 15.5% premium to the combined market value of RM32.9 million. The Star also reported that the disposal is expected to produce an estimated net pro forma gain of RM30.46 million after taking into account the audited net carrying amount and estimated real property gains tax.
NationGate System's role makes the buyer side clearer. The Star described the company as being involved in the manufacture and design of electronic components as well as warehousing services, with shareholders including NationGate Solution (M) Sdn Bhd and Nationgate Holdings Bhd. In plain terms, this is industrial property moving from an older Sarawak-linked group into an electronics and warehousing orbit in mainland Penang.
For owners nearby, the number to keep is RM143 psf, with one caution: the premium and the built assets are part of the story, so it should be read as a package price rather than a blanket land quote for Seberang Perai Tengah.
Sources: Bursa announcement mirror on KLSE Screener, The Star, DagangNews.
