Rapid Synergy to dispose of land for RM32mil

PETALING JAYA: Rapid Synergy Bhd is proposing to dispose of 1,338 sq metres of freehold land in Desa Sri Hartamas, Kuala Lumpur, to Segi Permai Sdn Bhd for RM32.39mil.

In a filing with Bursa Malaysia, Rapid Synergy said the disposal of the land will consist of a five-storey commercial building comprising a total of 39 units of commercial lots with a basement car park, known as Wisma Rapid.

“The proposed disposal represents an opportunity for the group to unlock and realise the value of the property, fund working capital (including business expansion) and / or repayment of bank borrowings of the group,” it said.