Southern Steel to sell land in Johor for RM65mil

KUALA LUMPUR: Southern Steel Bhd (SSB) is proposing to dispose of two parcels of land measuring 12.56 hectares in Pasir Gudang, Johor Bahru to Sinppa Industrial Sdn Bhd (SISB) for RM65 million, where it foresees a net gain on disposal totalling RM6.42 million.

In a filing with Bursa Malaysia, SSB said the aforementioned properties are not needed for its operations, and the move will enable it to realise its investment in the property.

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