Ekovest sells 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 is consistent with its 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.”