PETALING JAYA: Harn Len Corp Bhd
is disposing of a piece of land measuring 3,725.8 sq m in Johor Baru to Starsea Resources Sdn Bhd for RM55mil.
In a filing with Bursa Malaysia, Harn Len said the land is located within the northern portion of the central business district of Johor Baru city centre and within the Ibrahim International Business District transformation plan.
“The land remains vacant and currently being used as a public parking with a monthly rental of RM11,000.
“Accordingly, the proposed disposal provides Harn Len Group an opportunity to unlock and realise the value of the land which represents part of its non-core assets, whilst providing a surplus cash flow arising from the sale of the land.”
Harn Len added that the availability of the surplus cash flow will enable the company to reaffirm its commitment to expand its business in the food security segment.
