Guocoland Bhd to dispose off land to KWAP for RM87.92 million

Guocoland Bhd to dispose off land to KWAP for RM87.92 million

KUALA LUMPUR, Oct 29  — Guocoland (Malaysia) Bhd’s indirect wholly-owned subsidiary, Sabna Development Sdn Bhd, has proposed to dispose of a parcel of land in the capital to Retirement Fund Incorporated (KWAP) for RM87.92 million.

In a filing to Bursa Malaysia, Guocoland said the proposed disposal, which is expected to be completed in the first quarter of next year, would enable Guocoland Group to realise its investment in the property.

Upon completion of the sale, Guocoland Group is expected to realise a net gain on disposal of RM19.94 million, representing a 2.98 sen increase in earnings per share and net assets per share of the company.

— BERNAMA

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