The proposed disposal allows the DRB-Hicom Group to unlock the value of its investment in Corwin based on the current market value of the property,
PETALING JAYA: DRB-Hicom Bhd
said its indirect wholly owned subsidiary, Hicom Megah Sdn Bhd, is selling a shopping mall in Singapore for S$317mil (RM965mil).
Hicom Megah controls 90% of Corwin Holdings Pte Ltd, the owner of a six-storey shopping mall known as The Verge, located at Serangoon Road. The Verge has a total net lettable area of approximately 130,250 sq ft and its net book value was S$140mil as at March 31.
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