Perduren gains RM751,000 from asset disposal

KUALA LUMPUR: Property investment company Perduren (M) Bhd expects a one-off gain of RM751,000 for its 2014 financial year ending March 31, following an asset disposal for RM11 million.

In a note to Bursa Malaysia yesterday, Perduren said it had entered into a sale and purchase agreement to dispose of a retail lot to Desa Ledang Sdn Bhd for RM11 million cash.

The company said the sale proceeds of RM5 million will be used for a yearly principal repayment of an existing term loan as redemption sum. The remaining RM6 million will be utilised for working capital.

“The proposed disposal will not have any material effect on the net assets per share but will result in a slight reduction in the gearing of the group,” said Perduren.

It said the valuation of the property was conducted by independent valuer Messrs Henry Butcher Malaysia (Johor) Sdn Bhd.

The property, measuring about 2,546 sq m, under parcel four, Lot No 2F3-2F6, is located on the fourth floor of Holiday Plaza Shopping Complex in Johor Baru.

It is presently tenanted to Deluxe Exclusive Lounge Sdn Bhd from Jan 1, 2013 to Dec 31, 2015 for RM78,360 per month. — by Charlotte Chong


This article first appeared in The Edge Financial Daily, on July 10, 2013.


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