Talam sells Bukit Beruntung land to Tesco for RM18.6m

Posted on | April 10, 2007

By THE EDGE

Talam Corporation Bhd’s subsidiary Europlus Corporation Sdn Bhd is disposing of a 10.16ha (25.1-acre) freehold land in Bukit Beruntung to Tesco Stores (Malaysia) Sdn Bhd for RM18.59 million.

Talam said on April 10 the net proceeds of the proposed disposal would be used to pare off the group’s borrowing and sales related expenses.

As of Jan 31 2007, Talam’s total borrowings and debt securities stood at RM863.16 million. It added that the proposed disposal would result in a one-off loss of RM800,000.

It said the original cost of investment of the land, which was made in December 1991, was RM9.3 million.

You might also like

Talam sells land for RM28.5m By THE STAR PETALING JAYA: Talam Corp Bhd, via subsidiary Juara Tiasa Sdn Bhd, is disposing of a plot...

No loss occurred over Talam takeover By THE STAR The Selangor Government hopes to make RM1.2bil after taking over Talam Corporation two...

Talam sells land to settle Selangor debt By THE STARSale of assets in Bukit Beruntung helps reduce gearing ratio to 1.32 timesPETALING JAYA: Talam...

Talam unit sells land for RM35mil By THE STARKUALA LUMPUR: Talam Corp Bhd subsidiary Galian Juta Sdn Bhd has entered into two sale and...