MTD ACPI Engineering Bhd yesterday announced that it has entered into a sales and purchase agreement (SPA) with Campio Builders Sdn Bhd to dispose of a piece of land in Sepang, Selangor, for RM8.23 million cash.
The freehold land measuring 1.39ha is zoned for commercial development. Valued at RM6.9 million, the land is presently charged to EON Bank Bhd, MTD ACPI said in an announcement to Bursa Malaysia.
The company had purchased the parcel of land for RM6.9 million in 2002, which represents a net gain of some RM1.33 million for the company. MTD ACPI added that it would be using proceeds from the sale to pay bank borrowings and for working capital.
This article appeared in The Edge Financial Daily, July 8, 2010.
No comments:
Post a Comment