KUALA LUMPUR: WRP Asia Pacific Sdn Bhd has received offers to buy 10 double former glove production lines at Advanced Healthcare Products Sdn Bhd (AHP) in Senawang, Negri Sembilan.
WRP special counsel Mathew Thomas Philip said the production lines were assets that were acquired from Sama Sama Engineering Machines Sdn Bhd between 2010 and 2012, and were installed at AHP's facility under WRP's previous management.
"This followed a forensic audit that was ordered by the current board of directors which assumed control of WRP operations earlier this year," said Philip.
He said WRP recognised the significant role that creditors had played in enabling the company to restart operations and participate in its long-term goal of returning 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 said.
Philip is also founder and managing partner of Thomas Philip.
Over the last two months, WRP 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.