Ekovest disposes of 13 parcels of land for RM66.8mil

PETALING JAYA: Ekovest Bhd is disposing of 13 parcels of land in Kuala Lumpur to Airman Sdn Bhd in a related party transaction for RM66.8mil.

In a filing with Bursa Malaysia, Ekovest said the divestment of land is consistent with the company’s principal business activity as a property investment and development firm, enabling the immediate realisation of the land value.

“This transaction is anticipated to have a beneficial financial effect to the group, reflecting positively on the overall revenue and cash flow.

“Barring any unforeseen circumstances, the proposed disposal is expected to be completed in the third quarter of 2024,” it said.