Share
KUALA LUMPUR (July 3): Malayan United Industries Bhd (MUI) said its unit agreed to sell a freehold retail space in Penang at below market value to conclude negotiations quickly given the current economic uncertainties.
The RM3 million discount was also a gesture of goodwill to the purchaser, who has been a tenant of the property since 2010, the group said in response to a query from Bursa Malaysia on the discounted price.
On June 30, MUI announced that its indirect 98.21%-owned subsidiary, MJ Properties Sdn Bhd, had agreed to dispose of the retail space at Kompleks Bukit Jambul with a lettable floor area of 145,843 square feet, to Iman Ikhlas Sdn Bhd.
The RM25.5 million price is a discount to the market value price of RM28.5 million, the group’s filing showed.
The disposal is expected to be completed within 90 days, MUI said.
MUI’s share price was unchanged at 15 sen, valuing the group at RM439.88 million.
Stay safe. Keep updated on the latest news at www.EdgeProp.my
Click here for more property stories
TOP PICKS BY EDGEPROP
Taman Bukit Senawang Perdana
Seremban, Negeri Sembilan
Taman Sijangkang Jaya
Telok Panglima Garang, Selangor
Saffron Hills @ Denai Alam
Denai Alam, Selangor
Jalan Setiawangsa
Taman Setiawangsa, Kuala Lumpur
Primaya Bandar Tun Hussein Onn
Cheras, Selangor
Medan Idaman Business Centre
Setapak, Kuala Lumpur
Taman Sri Putra, Sungai Buloh
Sungai Buloh, Selangor
Suadamai, Bandar Tun Hussein Onn
Cheras, Selangor
Kenny Hills (Bukit Tunku)
Kenny Hills (Bukit Tunku), Kuala Lumpur
