Damansara Holdings’ indirect unit to sell two parcels of land in Johor for RM38.42m

KUALA LUMPUR, April 22 — Damansara Holdings Bhd (DBhd) via its indirect wholly owned subsidiary DAC Land Sdn Bhd, has entered into a conditional sale and purchase agreement with DMR Land Sdn Bhd to dispose of two parcels of land in Johor worth RM38.42 million.

In a filing with Bursa Malaysia today, DBhd said the two parcels of land in Tebrau, Johor Bahru, have areas of 1.44 hectares and 3.31 hectares, respectively.

“They are two contiguous parcels of land with the benefit of master planning approval designated for service apartments and/or commercial use, and private car park use.

“The proposed disposal is on a willing-buyer, willing-seller basis, taking into consideration the market value of the land is based on a rate of RM75 per square foot,” it said.

As at December 31, 2019, the carrying amount of the land in the audited consolidated financial statements of DBhd is approximately RM59.3 million. — Bernama