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语言:
Tan Chong Motor Holdings Berhad has announced the disposal of nine freehold land plots in Kuala Lumpur, for a total cash consideration of RM148.8 million. The sale was executed through its wholly-owned subsidiary, which entered into a Sale and Purchase Agreement with buyer Solid Interest Sdn. Bhd.
The properties, collectively measuring approximately 12,923.74 square meters include lots identified as Lot 92, Lot 93, Lot 40, Lot 41, Lot 244, Lot 687, Lot 241, Lot 379, and Lot 239.
According to TCMH, the subsidiary operates as a property investment holding company, and these plots of land have been held as investment properties for over eight years. The rationale behind this disposal is to unlock the value of these assets, which the company believes remains favorable at this juncture.
The proceeds from the sale are expected to significantly strengthen the Group’s liquidity position. This enhanced financial standing will enable TCMH to meet its working capital requirements and provide support for ongoing and future investments in new projects.
Solid Interest Sdn. Bhd., the purchaser, is a company involved in property investment and property development.
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