PETALING JAYA: Bina Puri Holdings Bhd
(BPHB) is proposing to dispose of a parcel of leasehold industrial land measuring approximately 1,665 sq m in Selayang, Selangor to Heritage Merge (M) Sdn Bhd for RM10mil.
In a filing with Bursa Malaysia, the firm said the land consists of a five-and-a-half storey purpose built office building together with two levels of basement car park erected thereon.
“The property is a non-core asset of the company. The proposed disposal forms part of the ongoing restructuring effort by BPHB and the proceeds will be utilised towards partial repayment of the amount owed to AmBank pursuant to the term loan facility, which will result in interest savings for BPHB group.”
BPHB added that the disposal will help reduce its gearing ratio from 1.36 times (as at June 30, 2024 and after adjusted for subsequent events) to 1.33 times.
