Lumi Jaya Sdn Bhd disposes land in Klang for RM26 million

Lumi Jaya Sdn Bhd disposes land in Klang for RM26 million

KUALA LUMPUR, Dec 22 — LTKM Bhd’s unit, Lumi Jaya Sdn Bhd, has disposed a 2.13 hectare industrial land in Kapar, Klang, for RM26 million to JM Asiajaya Sdn Bhd.

In a filing to Bursa Malaysia, LTKM said the proposed disposal would allow the group to unlock the potential value of the land and generate cash.

“The exercise will also increase our chances in acquiring strategic landbank in the future.

“The sale proceeds from the proposed disposal is expected to be utilised for future acquisition of landbank and/or for working capital purposes for the group,” LTKM said, adding that the proposed disposal was expected to be completed by the end of the second quarter in 2016.

— BERNAMA
 

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