Utusan Melayu plans to sell shop office in PJ for RM7mil

In a filing with Bursa Malaysia, Utusan said the property is located at Lot 648, Jalan Tiga Off Jalan Chan Sow Lin.

PETALING JAYA: Financially embattled Utusan Melayu (M) Bhd has proposed to sell its five-storey corner shop office in Petaling Jaya, Selangor for RM7mil to raise funds for working capital requirements.

The media company said the proposed disposal would provide an opportunity for the group to unlock the immediate value of the property, for which it incurred an original cost of investment of RM4.82mil in December 1995.