Farlim sells Perak land for RM33mil

PETALING JAYA: Farlim Group (M) Bhd is disposing of a leasehold housing scheme, together with reserved land for infrastructure, utilities, amenities and services measuring 39.174 ha in Kampar, Perak to Gabong Holding Sdn Bhd for RM33mil.

In a filing with Bursa Malaysia, the property developer said the disposal will provide an opportunity for Farlim and its subsidiaries to unlock the value and monetise its investment at a premium of 28.65% to the market value of the land, as appraised by Henry Butcher.

“The proposed disposal will also improve the group’s financial position and provide the group with an estimated pro forma gain of approximately RM10.74mil,” it said.

The proposed disposal is expected to be completed in the first half of 2025.