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KUALA LUMPUR (Aug 17): Construction engineering company WCT Holdings Bhd is disposing of 12 pieces of vacant freehold land in Serendah, Selangor for RM214.3 million cash.
The estimated gain from the disposal of the 603 acres of land to MDCon (Simpang Empat) Sdn Bhd is RM45.53 million, the group said in a stock exchange filing on Aug 16.
WCT said the disposal provides an opportunity for the group to unlock and realise the value of the land, as well as to fund working capital and loan repayments.
WCT added that the exercise will contribute positively to the earnings of the group.
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