PETALING JAYA: Fraser & Neave Holdings Bhd
(F&N) is disposing of 5.149ha of leasehold land in Seksyen 13, Bandar Petaling Jaya, Selangor which is expected to contribute RM83.2mil to the group.
In a filing with Bursa Malaysia, the group said it plans to dispose of its 50% stake in Vacaron Company Sdn Bhd, a joint venture company with Frasers Property Holdings (Malaysia) Pte Ltd, to Tan & Tan Developments Bhd (TTDB).
Vacaron owns the parcel of land that F&N is selling. The current market value for the land is RM360mil, as appraised by Henry Butcher Malaysia on March 10, 2025 and further updated on Sept 10 this year.
F&N is focused on unlocking value of its non-core properties and will utilise funds to grow its core business in manufacturing, distributing, marketing and sale of its beverage, dairy and food products.
