Puncak Niaga to dispose of land for RM306mil

PETALING JAYA: Puncak Niaga Holdings Bhd is disposing of three plots of leasehold land totalling 672,089 sq m in Ijok, Selangor, for RM306.07mil.

In a filing with Bursa Malaysia, Puncak Niaga said it would be disposing of the land parcels to Alpha Galaxy Sdn Bhd and Alpha Galaxy Bhd, which have common directors and shareholders.

“The proposed disposal of land is in line with the company’s strategy to monetise its land in Ijok as part of the group’s broader strategic thrust of sustainable value creation for the shareholders.”