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NewsBenalec sells land for RM235.13 million
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Benalec sells land for RM235.13 million
by Cals Wed 11 Jun 2014, 01:54
| Benalec sells land for RM235.13 million |
| Business & Markets 2014 |
| Written by Bernama |
| Tuesday, 10 June 2014 15:41 KUALA LUMPUR (June 10): Benalec Holdings Bhd has proposed to dispose of 22 parcels of leasehold commercial land in Melaka, measuring 52ha, to Ultra Harmony Development Sdn Bhd for RM235.13 million cash. Benalec said the proposal was in line with the group's business model to dispose of the reclaimed land received from reclamation projects in Melaka which involved settlement in kind or cash in a timely manner either through disposals or joint ventures. "The proposed disposal and the prior land disposal also provide an avenue for the group to raise funds to finance on-going and future reclamation projects and to meet working capital requirements," it said in a filing with Bursa Malaysia today. |
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