Eversendai sells lands in Sungai Buloh for RM63mil

KUALA LUMPUR: Eversendai Corp Bhd has proposed to dispose off two parcels of freehold land in Sungai Buloh, Selangor for RM63mil.

In a filing with Bursa Malaysia, Eversendai said its wholly owned subsidiary, ECB Properties Sdn Bhd entered into a sale and purchase agreement with Pelangi Tulus Sdn Bhd for the proposed sale.

“The property has been vacant since 2013. The proposed disposal is to enable the company to monetise the underutilised assets whereby the proceeds will be utilised towards payment of bank borrowing,” it said.

Eversendai said the price was determined based on the best price offered by the interested buyers and was agreed after taking into consideration the net book value of the property as at Dec 31, 2022 of RM61.29mil.