PETALING JAYA: Media Chinese International Ltd (MCIL) is disposing of a piece of land with a two-storey industrial building erected on it in Vancouver, Canada to Da Xing Investment Ltd for C$6.85mil (RM19.88mil).
Following the cessation of the group’s Canadian media operations with effect from Feb 1, 2026, MCIL said the property, which formerly served as its media operations office and printing facility in Canada, has since remained vacant.
“As the group has ceased its media operations in Canada and the property is no longer required for the group’s media operations in Canada, the directors consider that the disposal provides a good opportunity for the group to realise the value of the property and redeploy the proceeds from the disposal towards the group’s other business and operational requirements,” it said in a Bursa Malaysia filing.
“It is intended that the net proceeds from the disposal to be used for general working capital of the group within 12 months from the date of completion of the disposal,” MCIL added.