KUALA LUMPUR: Bintai Kinden Corporation Bhd has proposed to sell four 3-storey shop-offices in Sentul Perdana, Bandar Baru Sentul for RM6.4 million cash.

The group had entered into four separate sale and purchase agreements (SPA) with four purchasers on Monday, July 10, it announced to Bursa Malaysia on Monday.

Three of the shop-offices have a built-up of 4,840 sq ft while one has a built-up of 6,440 sq ft while their total land area is 7,840 sq ft.

The leasehold properties are 15 years old, and the price was arrived at on a willing buyer-willing seller basis.

Bintai Kinden will use RM5.36 million of the proceeds from the sale as working capital, while RM1 million will be used as working capital. RM40,000 will be used to cover estimated expenses related to the disposal.

The sale is expected to be completed by March 31, 2012.

Bintai Kinden offers specialised electrical and mechanical engineering services, construction, property investment and development and property and investment holdings.

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