Benalec to realise net gain of RM24.7m from land sale


Benalec's expertise is marine engineering especially reclamation.

KUALA LUMPUR: Benalec Holdings Bhd expects to realise a net gain of RM24.7mil from the sale of 216,427 sg metre of land in  Pekan Klebang, Melaka to Titanium Hallmark Sdn Bhd.

The company, which specialises in lad reclamation, said on Tuesday it had signed a sale and purchase agreement to sell the land for RM110mil. The land is leasehold and expires in 2115 and would be fore commercial buildings only.

“Proceeds arising from the disposal are intended to be used to finance the company’s on-going reclamation projects and to meet the company’s working capital requirements,” it said.

Benalec said proceeds from the sale wouuld be utilised within 12 months.

“The disposal provides an avenue for Benalec to monetise and crystallise the value of its landbank; while at the same time, improve the cash flow of the company,” it said. 

The directors of Titanium Hallmark are Lim Bee Wan, Audrey Yap Yee Siew and Leong Seng Hoong.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

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

Middle East turmoil poses major economic risk
Codelco explores new partnerships
Bank Indonesia steps in to support weaker rupiah
US ties easing of Venezuela oil sanctions to fair elections
Cost of Lockheed F-35 jet deal lilkely to exceed US$1.5 trillion
Legalisation of casinos to be studied by various agencies
VN-Index plunges, loses US$10bil in market cap
MIDA, a vital instrument to remove obstacles for prospective investors - Tengku Zafrul
Ringgit easier against US dollar at closing
Alpha IVF remains committed to its growth strategy

Others Also Read