The disposal of the freehold land, measuring 6,658 sq m, is part of the company's plans to streamline its operations by focusing on its core business of aluminium smelting and channelling the proceeds towards its daily operating activities, it said in a filing with Bursa Malaysia.
Its property development profit, meanwhile, climbed 13.
“Owners will be notified to remove it themselves before we schedule a demolition.
The property’s “four contiguous acres” belonging to Evan Spiegel and Miranda Kerr are located “directly across the street from the Playboy Mansion, in prime Holmby Hills”.
In a sector update on Wednesday (Aug 17), the research house said the Sarawak government projects a capital injection of RM100 billion by 2028, envisioned to elevate the state into developed economy status.
DONE DEAL: Condo unit at Jalan U-Thant, Kuala Lumpur DONE DEAL: Factory unit at Compass @ Kota Seri Langat, Banting, Selangor This freehold land is situated in the Bukit Suria bungalow enclave in Kajang, Selangor – near Bandar Sungai Long, Cheras.
Swift Haulage said the exercise provides an opportunity to unlock and realise the value of the property, which represents part of its non-core assets, whilst providing a surplus cash flow arising from the sale of the property.
The cash call is expected to raise up to RM120.
MK Land is among the Large Scale Solar 4 (LSS4) @ MEnTARI programme project owners that have been granted PPA extension.
According to GuocoLand's Bursa Malaysia filing, revenue for the quarter grew 29.
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