KLANG: KUB Malaysia Bhd’s plan to dispose its fast food chain business, A&W Malaysia Sdn Bhd will be completed by month-end, and the diversified group is also likely to sell the 0.42 hectare plot of land of its iconic A and W outlet in Petaling Jaya.
KUB President and Managing Director Datuk Abdul Rahim Mohd Zin said the group constantly reviews its asset position and the disposal of both its A&W stake and the land were the only divestments the company looked into so far.
“If we get better value for the (land) disposal, we will go for it, because we are not property developers and we don’t want to take any development risk,” he told reporters after launching two new liquefied petroleum gas (LPG) trucks here today.
However, Abdul Rahim said the company would also consider a joint-development project as an alternative plan for the land which currently has a gross development value of RM245 million and a market value priced at RM28 million.
“Following the development order obtained from the Petaling Jaya Municipal Council, there is now an added premium of RM10 million (to the market value).
“The (best) offer that we received so far is around that value (of RM38 million) too,” he said. -Bernama
Related stories:
KUB unit sells entire stake in A&W Malaysia for RM34mil
KUB still looking to sell A&W
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