KUALA LUMPUR (Feb 25): Minda Global Bhd said today it is disposing of an education campus in Hulu Langat for RM30 million cash.
The property comprises 15 contiguous units of four-storey terrace blocks, a single storey auditorium and 18 units of shop offices and a car park area.
Minda Globa’s indirect wholly-owned unit Asiamet Education Group Sdn Bhd has signed a sales and purchase agreement with Ascent Resource Holdings Sdn Bhd for the disposal.
The properties combined have a floor area of 140,806 sq ft, and are currently rented out for RM100,000 per month, the company said.
The sale will result in gains on disposal of RM6.52 million, taking into account disposal expenses of about RM2.32 billion and the properties’ net book value of RM21.17 million as at end-2018.
Minda Global expects the sale to be concluded by the second quarter of this year.
Shares in the education group rose half a sen to five sen today, giving the group a market capitalisation of RM62 million.
Click here to see commercial properties for sale in Hulu Langat, Kuala Lumpur.
TOP PICKS BY EDGEPROP
Bandar Kinrara 6
Bandar Kinrara Puchong, Selangor
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.