WRP Asia Pacific Sdn Bhd (WRP) announced that as part of its ongoing efforts to turnaround the company, it has received offers of interest for the disposal of 10 double former glove production lines that are situated in the Advanced Healthcare Products Sdn Bhd (AHP) premises in Senawang, Negeri Sembilan.
WRP’s Special Counsel, Mathew Thomas Philip, shared that following a forensic audit ordered by the current Board of Directors which assumed control of operations of the company earlier this year, the production lines were identified as assets that were acquired by WRP from Sama Engineering Machines Sdn Bhd between 2010-2012 and installed at AHP’s premises under the direction of the previous management of the company.
Mathew Thomas Philip, who is also the Founder and Managing Partner of Thomas Philip, said, “WRP recognises the significant role that creditors have played in enabling the company to restart operations and participate in our long term goal of returning the company to profitability.”
“Our efforts to monetise these recently unearthed dormant assets will enable us to expedite settlements with our creditors, especially given their patience and receptivity all along,” he added.
Over the last two months, WRP has received several offers of interest for these production lines. Upon identification of a suitable buyer and following due process, WRP plans to channel these funds to creditors as part payment commencing from July 2021.
WRP Receives Offers For Disposal Of Excess Assets
