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NewsPinehill unit sells land for RM16.7m
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Pinehill unit sells land for RM16.7m
by hlk Sat 04 Aug 2012, 09:26
Pinehill Pacific Bhd, through Pinehill Plantations (M) Sdn Bhd, is set to dispose of two parcels of freehold land to Tungling Corporation Sdn Bhd for RM16.7 million.
The land, measuring about 13,345 square feet each, is located in Kuala Lumpur.
Pinehill said the disposal provides an opportunity for the company to realise its capital investment for a gain of approximately RM8.8 million after minority interest.
"This will enhance the financial position of the Group and provide funding for working capital," the company said in a filing to Bursa Malaysia today. -- Bernama
The land, measuring about 13,345 square feet each, is located in Kuala Lumpur.
Pinehill said the disposal provides an opportunity for the company to realise its capital investment for a gain of approximately RM8.8 million after minority interest.
"This will enhance the financial position of the Group and provide funding for working capital," the company said in a filing to Bursa Malaysia today. -- Bernama
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