PETALING JAYA: LBS Bina Group Bhd
’s unit Sinaran Restu Sdn Bhd has disposed of two parcels of land in Johor Baru to Asiana Square Sdn Bhd.
The parcels of land measure approximately 8,267 sq m and are being sold for a total cash consideration of RM110mil following the signing of the sales and purchase agreement.
LBS Bina said in a filing with Bursa Malaysia that the transaction presents an opportunity for it to realise gains from the appreciation in land value.
“The transaction enables the group to redeploy capital into projects within the Klang Valley, where market fundamentals remain robust, underpinned by resilient demand, established infrastructure and strong brand presence,” it said.
“This reallocation of resources is aligned with the group’s Eight times Eight Strategy, which seeks to optimise land holdings, and in turn, enhance operational efficiencies and strengthen long-term shareholder value of the group.”
