Guocoland associate sells Sepang land for nearly RM475m


KUALA LUMPUR: Guocoland (Malaysia) Bhd’s associate Vintage Heights Sdn Bhd is selling 679.2 hectares of land in Sepang, Selangor to Putrajaya Properties Sdn Bhd for cash consideration of RM475mil.

Guocoland said on Monday upon completion of the disposal, Vintage Heights is expected to realise a net gain on disposal of about  RM290mil and about RM116mil is expected to be attributable to Guocoland.

“The net gain attributable to owners of the company represents an increase in earnings per share and net assets per share of the company of approximately 17.31 sen,” it said.

It said the proceeds would be used for Vintage Holdings’ working capital purposes, repayment of borrowings and/or distribution to Vintage Holdings’ shareholders.

Subscribe now for a chance to win your dream holiday!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Axis-REIT quarterly performance improves
DPS in Melaka agro-tourism joint venture
Uzma secures RM19mil oil and gas contract
‘Multi-year upcycle set in motion’
Banks not main beneficiaries of data centre boom
Glove sector still facing tough environment
Monetary policy likely to be unchanged
Grab acquires restaurant reservation platform Chope
JCorp profit up 9% to RM2.4bil on higher revenue
Bursa Malaysia likely to post robust 2Q net profit

Others Also Read