PETALING JAYA: Ibraco Bhd
has entered into an agreement to dispose of about 4.2 acres of vacant leasehold land in Block 12, Muara Tebas Land District, to NorthBank Specialist Hospital Sdn Bhd and Kuching Health Holdings Sdn Bhd for RM35.4mil.
The Sarawak land, acquired in 2011 and valued at RM34mil as of November 2024, is earmarked for the development of a private specialist hospital within the NorthBank township.
Ibraco expects to record a gain of about RM22mil from the disposal, with proceeds to be channelled towards the NorthBank Business Exchange development, working capital, and transaction expenses.
