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HwangDBS selling land, building
by Cals Sun 20 Oct 2013, 19:19
Published: Saturday October 19, 2013 MYT 12:00:00 AM
Updated: Saturday October 19, 2013 MYT 7:22:37 AM
HwangDBS selling land, building
KUALA LUMPUR: HwangDBS Investment Bank Bhd (HwangIB) has disposed of a vacant freehold land, together with a commercial building, to Putrajaya Ventures Sdn Bhd for RM82.5mil.
HwangIB is a wholly-owned subsidiary of Hwang-DBS (Malaysia) Bhd.
In a filing with Bursa Malaysia yesterday, Hwang-DBS said that the disposal was in line with the group’s objective to sell non-core and non-income generating assets.
“While the property was initially acquired with the intention of housing HwangIB’s operations, the rapid expansion of the group led to the property being insufficient to accommodate the group’s operations, hence resulting in the proposed disposal,” Hwang-DBS said.
“The disposal will enable the Hwang-DBS group to realise the potential value of the property for cash consideration.
“This will enhance the financial position of Hwang-DBS group and thereby create a stronger platform for the group to undertake further endeavours,” Hwang-DBS added. — Bernama
Updated: Saturday October 19, 2013 MYT 7:22:37 AM
HwangDBS selling land, building
KUALA LUMPUR: HwangDBS Investment Bank Bhd (HwangIB) has disposed of a vacant freehold land, together with a commercial building, to Putrajaya Ventures Sdn Bhd for RM82.5mil.
HwangIB is a wholly-owned subsidiary of Hwang-DBS (Malaysia) Bhd.
In a filing with Bursa Malaysia yesterday, Hwang-DBS said that the disposal was in line with the group’s objective to sell non-core and non-income generating assets.
“While the property was initially acquired with the intention of housing HwangIB’s operations, the rapid expansion of the group led to the property being insufficient to accommodate the group’s operations, hence resulting in the proposed disposal,” Hwang-DBS said.
“The disposal will enable the Hwang-DBS group to realise the potential value of the property for cash consideration.
“This will enhance the financial position of Hwang-DBS group and thereby create a stronger platform for the group to undertake further endeavours,” Hwang-DBS added. — Bernama
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