MPHB confirms talks to dispose of Menara Multi-Purpose

KUALA LUMPUR: Multi-Purpose Holdings Bhd (MPHB) said it is in talks with various parties to dispose of its non-core assets, including Menara Multi-Purpose.

In a filing with Bursa Malaysia on Tuesday, Aug 16, the group said it is discussing the disposals as part of its asset rationalisation exercise.

"At this juncture, the company has not entered into any definitive agreement for the sale of Menara Multi-Purpose," it said.

The announcement was in response to a report in The Edge this week that Barisan Nasional component MCA is in advanced talks with MPHB to acquire Menara Multi-Purpose, and the two parties are in the process of drafting the agreement.

MPHB did not deny nor confirm that that it is in talks with MCA in on Tuesday's filing.

"The company will make the necessary announcement(s) in accordance with the Main Market listing requirements of Bursa Malaysia Securities Bhd in the event that any definitive agreements have been entered into for the sale of the non-core assets which include Menara Multi-Purpose," the filing said.

It was reported that MPHB is looking to sell the 43-storey office block in Capital Square for a price tag of RM350 million to RM400 million, and that a generous dividend could be declared following the sale.

MPHB rose seven sen to close at RM2.84 on Tuesday with 3.77 million shares done.