Gabungan AQRS gains 2.27% on land disposal plan

KUALA LUMPUR (March 20): Gabungan AQRS Bhd rose 2.27% this morning after the company announced its plan to dispose of a 5.15-acre piece of land in Petaling, Selangor for RM34.7 million.

At 10.37am, Gabungan AQRS’ counter gained 3 sen to RM1.35.

Last Friday, the company announced it is selling the land via 52%-owned Prestige Field Development Sdn Bhd to Ara Indah Development Sdn Bhd to repay borrowings and for its working capital.

The group is also looking to dispose of 19.13 acres of land in Dengkil, Selangor by the end of its first financial quarter ending March 31, 2017. — theedgemarkets.com

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