Berjaya Assets confirms sale of Imbi land

KUALA LUMPUR (July 13): Berjaya Assets Bhd (BAssets) has appointed an exclusive marketing agent for the sale of a piece of freehold land in Imbi.

This confirmed a report by The Edge Financial Daily on Monday, which said the company was looking at a potential sale of the land for some RM130 million.

Measuring about 41,990 sq ft, the land, located next to the integrated Berjaya Times Square commercial development at the intersection of Jalan Imbi and Jalan Pudu, was acquired 22 years ago.

In a filing with Bursa Malaysia yesterday, BAssets said its wholly-owned subsidiary Berjaya Times Square Sdn Bhd has appointed Jordan Lee & Jaafar Sdn Bhd as its exclusive marketing agent for the proposed land sale by way of expression of interest, which is a non-binding arrangement.

"[An] Appropriate announcement on the said proposed sale will be made should a definitive agreement be entered into," it added.

BAssets shares closed unchanged at 77.5 sen yesterday, bringing a market capitalisation of RM862.6 million.

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This article first appeared in The Edge Financial Daily, on July 13, 2016. Subscribe to The Edge Financial Daily here.