MRSB disposes a one-acre plot of commercial land in Mukim Pulai

KUALA LUMPUR: Mutiara Rini Sdn Bhd (MRSB), a wholly-owned subsidiary of Boustead Holdings Bhd (BHB) today entered into a sale and purchase agreement, to dispose off a one-acre plot of commercial land in Pulai, Johor Bahru.

"MRSB will dispose it to Boustead Petroleum Marketing Sdn Bhd (BPMSB) for a total consideration of RM3,963,960 or RM91.00 per sq ft," it said in a filing to Bursa Malaysia on Wednesday, Dec 1.

BPMSB is a 70% subsidiary of Boustead Petroleum Sdn Bhd which in turn is a 53% subsidiary of BHB.

The property is part of the overall residential and commercial development being carried out and launched to the public in Taman Mutiara Rini, Skudai, Johor.

The property is leasehold in nature with a lease of 991 years expiring in 2911. The property is vacant at the present time. — Bernama