YNH Property sells land for RM170mil

KUALA LUMPUR: YNH Property Bhd has, via its wholly-owned subsidiary Kar Sin Bhd, disposed of a 5.1-acre freehold tract in Desa Seri Hartamas, Kuala Lumpur, to Sunway Living Space Sdn Bhd for RM170mil cash.

In a filing with Bursa Malaysia, the group said the purchaser will take vacant possession of the property free from all encumbrances on an “as is where is” basis.

YNH Property said the proposed disposal will provide an opportunity for it to realise and unlock the value of its investment.