RIMBACO (01953) plans to sell two land plots in Malaysia for 11.45 million ringgit.

RIMBACO (01953) announced that on November 18, 2025, the company's indirect wholly-owned subsidiary Rimbaco intends to sell the land parcels to Critical M&E Engineering Sdn. Bhd. for a total consideration of RM 11.45 million. The land parcels include two vacant and undeveloped plots located at (i) Perak Road Jelutong (known as Geran 10843, Lot No.616, Seksyen 1, Bandar Jelutong, Daerah Timor Laut, Pulau Pinang), with an area of approximately 22,625 square feet; and (ii) Geran 10844, Lot No.618, Seksyen 1, Bandar Jelutong, Daerah Timor Laut, Pulau Pinang, with an area of approximately 3,485 square feet. Considering the group's current financial position and future working capital requirements, as well as the outlook of the Malaysian real estate market, the directors believe that the sale presents a good opportunity for the company to realize the value of the land parcels (currently vacant and undeveloped) at a fair price. The proceeds from the sale will improve the group's financial position and increase general operating funds.