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Wednesday, 21 June 2017

(The Star) SDB to dispose of Jalan Ampang land

KUALA LUMPUR: Property developer Selangor Dredging Bhd (SDB) will dispose of a piece of freehold commercial land together with four blocks of commercial building and two levels of basement car parks erected thereon known as Wisma Selangor Dredging.

In a filing with Bursa Malaysia yesterday, SDB said the land, in Jalan Ampang, Kuala Lumpur would be sold to Golden Eagle Realty Sdn Bhd for RM480mil.

SDB’s principal adviser Maybank Investment Bank Bhd said the proposed disposal was expected to be completed in the first quarter of 2018.

“The proposed disposal provides an opportunity for the group to unlock its investment in Wisma Selangor Dredging and generate immediate cash flow for the group.” – Bernama