KUCHING: Media Chinese International Limited (MCIL) has completed the disposal of property in Canada for US$7.15 million (RM28.65 million).
Indirect wholly-owned subsidiary, Ming Pao Holdings (Canada) Ltd, sold the property – a piece of land measuring 1.88 acres and a single-storey industrial building located in Scarborough City of Toronto – to Cyclone Ranbge Hoods Inc.
According to MCIL,following the cessation of the group’s Canadian media operations on February 1,2026,a big part of the property,which formerly served as the group’s media operations office and printing facility in Canada,had since remained vacant.The group’s Canadian travel operations are,however,still based at the property,which was acquired in March 1993.
The disposal enables the group to recognise an unaudited gain of approximately US$5.925 million (RM23.75 million).
The proceeds from the disposal will be utilised for general working capital of the group within 12 months.
Currently,MCIL publishes several Chinese daily newspapers in Malaysia,including Sin Chew Daily and Nanyang Siang Pao,and Chinese magazines.
