Metrojaya to sell retail space

PETALING JAYA: MJ Properties Sdn Bhd, a wholly-owned subsidiary of Metrojaya Bhd, has proposed to dispose of a freehold retail space known as G-MO1 on the basement and ground floor of Kompleks Bukit Jambul, Jalan Rumbia in Beyan Lepas, Penang for RM25mil.

Metrojaya Bhd is an indirect 98.21%-owned subsidiary of Malayan United Industries Bhd (MUI Bhd), according to its filing with Bursa Malaysia.

The board of MJ Properties Sdn Bhd agreed to the discounted price compared with the market value so as to conclude negotiations as soon as possible in view of the current economic uncertainties and as a gesture of goodwill to the purchaser, who has been a tenant of the property since 2010.

MJ Properties Sdn Bhd bought the property in January 1996.

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