Avarga Limited Completes RM1 Million Sale of Agriculture Land in Selangor After Land Conversion, Fulfills All Conditions
Link: https://links.sgx.com/1.0.0/corporate-announcements/MV857W6IPIJEI0EC/65ea5ef7b49e3443e91c4e7c575835ef57fb44e064b6f3b7a128aed390d445f4
Summary:
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Avarga Limited finalized the sale of two agriculture land parcels (now amalgamated and converted to industrial use) in Kuala Selangor, Malaysia, for RM1,000,000.
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All regulatory consents and land use changes—amalgamation and re-alienation—were completed ahead of sale completion.
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Buyer paid RM20,000 earnest deposit, RM80,000 retention and balance deposit, and remaining RM900,000 on completion; additionally, buyer bears RM1,113,894 in associated land conversion fees.
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Transaction marks the completion of SpA1’s conditions precedent, with full payment now received.
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Proceeds and update announced by CEO Tong Ian on 19 November 2025.