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NewsMBSB sells abandoned mall, land in Johor for RM180m (1171)
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MBSB sells abandoned mall, land in Johor for RM180m (1171)
by hlk Thu 23 Aug 2012, 20:03
KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) is selling a piece of commercial land in Johor with an abandoned shopping mall for RM180mil to WCT Bhd.
MBSB said on Thursday the proposed disposal is expected to result in a gain on disposal of about RM55mil or an increase in earnings per share by 5.5 sen.
Its unit Idaman Usahamas Sdn Bhd had entered into a sale and purchase agreement with WCT's unit WCT Hartanah Jaya Sdn Bhd to dispose of a plot of commercial land with the mall, comprising of a four-level retail podium block and two levels of car park. Messrs Jordan Lee & Jaafar had on Feb 15, ascribed an open market value of RM160mil while the net book value of the property as at Dec 31, 2011 was RM124.55mil. MBSB said property was sold via a public tender with a reserve price of RM160mil. The tended was advertised on April 16 and closed on June 22. Two tenders were received where the value of the other bid was RM89.0mil.
MBSB said on Thursday the proposed disposal is expected to result in a gain on disposal of about RM55mil or an increase in earnings per share by 5.5 sen.
Its unit Idaman Usahamas Sdn Bhd had entered into a sale and purchase agreement with WCT's unit WCT Hartanah Jaya Sdn Bhd to dispose of a plot of commercial land with the mall, comprising of a four-level retail podium block and two levels of car park. Messrs Jordan Lee & Jaafar had on Feb 15, ascribed an open market value of RM160mil while the net book value of the property as at Dec 31, 2011 was RM124.55mil. MBSB said property was sold via a public tender with a reserve price of RM160mil. The tended was advertised on April 16 and closed on June 22. Two tenders were received where the value of the other bid was RM89.0mil.
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