PETALING JAYA: Country View Bhd
(CVB) is disposing of three pieces of freehold commercial land totalling 36,588 sq m in Johor Baru to Paragon View Sdn Bhd for RM47.26mil.
In a filing with Bursa Malaysia, CVB said the bulk of disposal proceeds will be chanelled to fund ongoing and future development projects.
“The disposal of the land is expected to allow the CVB group to unlock its value and enhance the liquidity position of the group,” it said.
Additionally, CVB said the disposal of the plots of land is expected to strengthen the group’s principal business and provide overall benefit to the group.
CVB said the land is sited on a strategic location in Iskandar Puteri and is well accessible from Johor Baru city via the Western Coastal Highway and the Johor Baru Parkway, Tuas/Jurong of Singapore via the second link and other parts of Malaysia via the North-South Highway.
