KUCHING: Reservoir Link Sdn Bhd (RLSB) is disposing of its investment property, an office suite in Mont’ Kiara, Kuala Lumpur, for RM4.5 million cash.
The wholly-owned subsidiary of Reservoir Link Energy Bhd (RLEB) said it has entered into a sale and purchase agreement with two Malaysians for the disposal of the 775-square-metre office suite, which is currently tenanted.
“The purchase price was arrived at on a willing-buyer, willing-seller basis after taking into consideration, among others, the prevailing market conditions, recent transacted prices of similar properties in the vicinity and the NBV (net book value) of the investment property of approximately RM4.67 million as at 31 August 2025.
“No independent valuation was undertaken for the purpose of the disposal,” RLEB said in a filing with Bursa Malaysia.
RLEB said the office suite was acquired in 2015, and two years later, RLSB began occupying part of it to accommodate its expanding business needs. The subsidiary vacated the premises in September 2019.
“The investment property is no longer required for the company’s operational purposes and holds limited strategic value to the business. Accordingly, the disposal is in line with the company’s ongoing asset rationalisation strategy.
“The disposal will release capital currently tied up in a non-core, low-yield asset, enabling redeployment towards business segments with stronger growth potential and higher returns.
“Disposing of the investment property will reduce ongoing costs associated with property ownership, including maintenance, repairs and management, thereby improving operational efficiency,” the company said.
RLEB added that the disposal is expected to result in a one-off accounting loss of about RM285,257 for the financial year ending June 30, 2025.
Proceeds from the sale will be used to pay down its overdraft (RM1.7 million), term loan (RM1.252 million) and agent commission (RM112,500), while the remaining RM1.432 million will go towards working capital.
