TSR Capital sells property in Port Dickson to McDonald's licensee

KUALA LUMPUR (June 20): Property and construction group TSR Capital Bhd is disposing of a property in Port Dickson to Malaysia's McDonald's licensee Gerbang Alaf Restaurants Sdn Bhd.

In a bourse filing, TSR Capital said it is selling part of a land measuring 36,617 sq ft together with a McDonald's restaurant erected on it for RM6 million.

The land was purchased in 2011, and the original cost incurred for the property was RM3.5 million.

TSR Capital said the disposal is expected to be completed by the first quarter of 2023, and the proceeds will  be used mainly for working capital.

TSR Capital shares closed at 18.5 sen on Friday (June 17), bringing a market capitalisation of RM32.3 million.

Edited by S Kanagaraju.