Senheng New Retail Berhad announced that it had entered into a Sale and Purchase Agreement with Mactree Sdn Bhd for the disposal of a piece of freehold industrial vacant land in Johor Bahru for RM11.2 million.

The property was acquired by Senheng in 2018 comprising a piece of freehold industrial vacant land measuring approximately 1.0414 hectares.

The group said the proposed disposal provides an opportunity to realise the property which has increased in value since its acquisition in the year 2018 and to provide immediate cash flow towards the company's business operations for its working capital purposes.