Fiamma unit disposes of vacant land for RM39.21mil

KUALA LUMPUR: Fiamma Holdings Bhd's subsidiary Oaksvilla Sdn Bhd is disposing of 18 parcels of leasehold agriculture land in Mukim Kota Tinggi in Johor to Scientex Bhd's unit Amber Land Bhd for RM39.21mil cash.

According to Fiamma's filing with Bursa Malaysia, the land in question measures 85.73 acres and was purchased for RM10.64mil in June 2003. The land has a net book value of RM16.84mil.