Apex Equity selling land of former project


The project was to involve the development of 61 units of shoplots, the company said in a filing with Bursa Malaysia yesterday to provide additional information on the proposed disposal.

PETALING JAYA: Apex Equity Holdings Bhd, which last week announced the disposal of four parcels of freehold land in Shah Alam for RM37mil, had initially planned a project with an estimated gross development value of RM86.5mil on the land.

The project was to involve the development of 61 units of shoplots, the company said in a filing with Bursa Malaysia yesterday to provide additional information on the proposed disposal.

On Dec 28, Apex announced that its property development arm, Apex Equity Capital Sdn Bhd (AEC), had inked an agreement to sell the land to KlangRealty Integrated Sdn Bhd for RM37mil, resulting in a gain of about RM4.6mil for the financial year ending Dec 31,2021. — Bernama

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