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.
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Stocks, oil skid as China's COVID protests roil sentiment
Cushioned from global impact
Bursa likely to trend higher on foreign funds
The Week Ahead: 3Q earnings , PMI, inflation
Caution despite typical year-end stock rally
Effective social protection system vital
News Corp shareholder concerned about Fox merger
What’s in it for me? – A consumer’s perspective on digital banking
Strong demand for gold jewellery from Singapore
Germany’s Brenntag in takeover talks with US rival

Others Also Read