BDB plans to sell Kedah land


  • Property
  • Tuesday, 07 Jul 2020

In a filing with Bursa Malaysia, BDB said its wholly owned subsidiary BDB Land Sdn Bhd has entered into a sale and purchase agreement with Paramount Property (Utara) Sdn Bhd to sell two parcels of land, measuring a total of 55.4 hectares, for a total consideration of RM24mil.

PETALING JAYA: Bina Darulaman Bhd (BDB) is expected to gain RM9.6mil from a proposal to sell two parcels of land in Kedah.

In a filing with Bursa Malaysia, BDB said its wholly owned subsidiary BDB Land Sdn Bhd has entered into a sale and purchase agreement with Paramount Property (Utara) Sdn Bhd to sell two parcels of land, measuring a total of 55.4 hectares, for a total consideration of RM24mil.

“The disposal will unlock the value of the land since BDB has no immediate plan to develop the land. It is in the best interest of the company and will enable BDB to raise funds for its working capital requirements and/or repayment of borrowings, ” it said.

BDB shares gained half a sen to close at 27 sen yesterday.

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