Kossan to sell land for RM153mil


  • Corporate News
  • Friday, 03 Apr 2020

Kossan said wholly owned subsidiary Ideal Quality Sdn Bhd yesterday inked a conditional agreement to dispose of the land to Best Eternity Recycle Technology Sdn Bhd (BERT), a pulp, paper and paperboard maker.

KUALA LUMPUR: Kossan Rubber Industries Bhd has found a new buyer for its 39.04 ha vacant land in Kuala Langat, Selangor, which it plans to sell for RM153.38mil to raise funds for the development of two pieces of industrial land in Perak.

The rubber glove maker said wholly owned subsidiary Ideal Quality Sdn Bhd yesterday inked a conditional agreement to dispose of the land to Best Eternity Recycle Technology Sdn Bhd (BERT), a pulp, paper and paperboard maker.

The signing followed the March 16 termination of an earlier conditional sale and purchase agreement (SPA) to sell the freehold land for RM147.75mil to Liansheng Paper (M) Sdn Bhd. — Bernama

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