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Benalec Holdings to dispose of 22 parcels of land for RM235.1 mln
by Cals Thu 20 Mar 2014, 22:31
Benalec Holdings to dispose of 22 parcels of land for RM235.1 mln
Business & Markets 2014
Written by Bernama
Thursday, 20 March 2014 20:07
KUALA LUMPUR (March 20): Benalec Holdings Sdn Bhd is selling 22 parcels of leasehold commercial land to Ultra Harmony Development Sdn Bhd, for RM235.1 million.
The land, totalling 50 hectares, is located in Melaka, it said in a filing to Bursa Malaysia, today.
The disposal is expected to realise an estimated after-tax gain of RM58.49 million, which translates into a gain of RM0.07 per share, to the company, it said.
"The proposed land disposal provides an avenue for the Benalec Group, to raise funds to repay outstanding indebtedness, as well as finance on-going and future reclamation projects, as well as meet working capital requirements," the filing said.
Business & Markets 2014
Written by Bernama
Thursday, 20 March 2014 20:07
KUALA LUMPUR (March 20): Benalec Holdings Sdn Bhd is selling 22 parcels of leasehold commercial land to Ultra Harmony Development Sdn Bhd, for RM235.1 million.
The land, totalling 50 hectares, is located in Melaka, it said in a filing to Bursa Malaysia, today.
The disposal is expected to realise an estimated after-tax gain of RM58.49 million, which translates into a gain of RM0.07 per share, to the company, it said.
"The proposed land disposal provides an avenue for the Benalec Group, to raise funds to repay outstanding indebtedness, as well as finance on-going and future reclamation projects, as well as meet working capital requirements," the filing said.
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