FSBM to sell, land office for RM51m

Posted on | September 3, 2010

By BERNAMA

KUALA LUMPUR: FSBM Holdings Bhd plans to dispose of a piece of freehold land with a five-storey office building in Cyberjaya, known as FSBM Plaza, to AmFirst Real Estate Investment Trust for RM51.5mil.

In an announcement to Bursa Malaysia, FSBM said it had accepted the letter of offer from Am ARA REIT Managers Sdn Bhd (AARMSB), the management company of AmFirst on behalf of Mayban Trustees Bhd, the trustee AmFirst. FSBM expects to use the cash inflow of RM51.5mil to repay bank borrowings and for working capital.

- Malaysia property news

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