PETALING JAYA: Naim Holdings Bhd
is disposing of 180.8ha of land at Sungai Sajiram/Sungai Kuap, Sungai Merdang, Samarahan, Sarawak to Onlyee Flora Sdn Bhd for RM223.38mil.
In a filing with Bursa Malaysia, Naim said the proposed disposal forms part of the group’s ongoing commitment to ensure long-term sustainability in its business operations in a tight property market, dominated by substantial unsold properties (as reported by the National Property Information Centre).
“With the available proceeds from the proposed disposal, the group would be able to pare down part of its borrowings and provide adequate working capital to ramp up its focus towards developing affordable homes.
“The board believes the proposed disposal would provide an opportunity to realise gains and unlock the value of its investment at fair and reasonable market value,” it said.
