PMB plans to sell land for RM37mil

The proceeds from the disposal would be used to settle a bridging loan and working capital, said the company in a filing with Bursa Malaysia.

PETALING JAYA: PMB Technology Bhd has announced that its wholly-owned subsidiary PMB Land (Sg Besi) Sdn Bhd has entered a sale and purchase agreement (SPA) with Faithview Resources Sdn Bhd for the disposal of freehold land for RM37mil.

The land had also been approved for the development of a block of studio apartments and serviced apartments per the development order dated April 7, 2015 which has been issued by Kuala Lumpur City Hall.