WTK’s RM38 Million Penang Disposal Sharpens Its Asset-Light Tapes Strategy

Kuala Lumpur, 30 September 2026 – W T K Holdings has agreed to sell three industrial leasehold parcels in Seberang Perai Tengah, Penang, for RM38 million cash, advancing a shift away from manufacturing in its tapes business. Its wholly owned subsidiary Loytape Industries signed the sale and purchase agreement with NationGate System on 30 September, according to a Bursa Malaysia announcement. The disposal remains proposed and is subject to the required approvals and completion conditions.

The land and buildings cover about 265,003 square feet. Roughly 180,267 square feet comprise industrial land with factory, office and ancillary buildings, while 84,736 square feet are vacant industrial land. WTK says the agreed price is RM5.1 million, or 15.5%, above an aggregate market valuation of RM32.9 million. That premium provides a reference point for the sale, though investors should distinguish the negotiated consideration from cash actually received before closing. The expected gain is large relative to the sale price, but accounting profit and cash proceeds are different measures. The filing therefore warrants two separate lenses: disposal economics and balance-sheet impact.