Topmix proposes RM16 million Subang Jaya land purchase
The freehold site is intended for offices and warehousing, but its proposed industrial use requires approval from the relevant authorities.
Topmix Bhd plans to pay RM16 million in cash for a 1.16 hectares site in Subang Jaya to accommodate its offices and warehouse operations, according to its exchange filing.
The buyer is Topmix Resources Sdn Bhd, a wholly-owned subsidiary, which has signed a purchase agreement with Quek Chye Hock. The freehold land has an agricultural classification, so the proposed industrial use remains subject to approval by the relevant authorities.
Topmix said the agreed price is 14.83% below the RM18.79 million market valuation prepared by KGV International Property Consultants (M) Sdn Bhd. The valuation report is dated Oct 23. Hup Kean Engineering Sdn Bhd currently rents the property for RM3,000 a month.
The company intends to combine bank borrowings with internally generated funds to finance the purchase. If borrowings cover 90% of the price, Topmix said its gearing would reach 0.41 times, compared with 0.24 times at end-Dec 2025.
Under that assumption, loans and borrowings would rise to RM35.17 million from RM20.77 million at end-Dec 2025. At end-June 2026, the company held RM23.01 million in cash and bank balances, alongside a fixed deposit amounting to RM5.91 million.
Topmix primarily sells high-pressure laminate (HPL) products for finishing kitchen and office cabinets. Its products are sold under its own brand and through collaborations with third-party decor paper suppliers.
