Talam to sell land to associate

Posted on | June 25, 2011

By BERNAMA

KUALA LUMPUR: Talam Corp Bhd has proposed to dispose of two pieces of land totalling 10.35ha in Daerah Petaling, Selangor, to Trident Treasures Sdn Bhd for RM39.46mil.

In a filing with Bursa Malaysia yesterday, Talam said the proposed disposal would enable it to improve its current liquidity position and reduce its borrowings.

Trident Treasure, which is a 40% associate of Talam, plans to undertake the development of semi-detached houses, dwelling houses or equivalent on the land. “The net carrying value of the land as at Jan 31 is RM76.55 million,” said Talam.

- Malaysia Property News

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