MK Land plans to sell leasehold land for RM130mil

Posted on | January 3, 2011

By BERNAMA

KUALA LUMPUR: MK Land Holdings Bhd’s wholly-owned subsidiary, Saujana Triangle Sdn Bhd (STSB), is proposing to dispose of two pieces of leasehold land to Foster Estate Sdn Bhd for RM130mil.

The company, in a filing to Bursa Malaysia today, said the disposal would unlock the value of the land which has not been earmarked for any immediate development.

The proceeds would be used as working capital over two years.

It said, the proposed disposal was expected to be completed by end-Dec, 2011.

- Malaysia Property News

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