Reliance sells two land parcels for RM26 mln

KUALA LUMPUR: Reliance Pacific Bhd had disposed of two land parcels, together with a two-storey office building for RM26 million.

In a filing to Bursa Malaysia on Monday, June 14, its unit Nesline Sdn Bhd entered into sale and purchase agreement with Andaman Land Sdn Bhd on June 10 to sell the properties located along Jalan Tun Razak. The combined size of the two parcels of land is 0.5 acres.

The disposal did not expect to have any effect on the share capital and substantial shareholdings in Reliance Pacific, and there are also no significant effect on its earnings and net assets per share.