KUB sells estate for RM158mil

“The disposal consideration was arrived at on a ‘willing-buyer willing-seller’ basis, ” KUB said in a filing with Bursa Malaysia.

KUALA LUMPUR: KUB (M) Bhd’s unit KUB Agro Holdings Sdn Bhd (Kubah) has disposed of Kubah Estate for RM158mil to Beradin Plantation Sdn Bhd, an investment property company.

The Kubah Estate comprises two divisions, Kahang Estate and Sungai Yong Estate, both of which are located to the north-east of Kluang in Johor.

“The disposal consideration was arrived at on a ‘willing-buyer willing-seller’ basis, ” it said in a filing with Bursa Malaysia.

Additionally, KUB said the estates’ aggregate net book value of RM16.54mil was based on KUB’s latest audited consolidated financial statements for the financial year ended Dec 31,2019.

“The market value of the Kubah Estate of RM156mil was appraised by C H Williams, ” it said. — Bernama

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