Guocoland to sell KL Land

Guocoland (M) Bhd, via its indirect wholly-owned subsidiary Sabna Development Sdn Bhd, plans to sell a piece of land in Kuala Lumpur to the Retirement Fund (Inc) (KWAP) for RM87.92mil.

In a filing with Bursa Malaysia, Guocoland said Sabna had entered into a sale and purchase agreement with KWAP for the disposal of the 31,398-sq-ft land.

Guocoland said the proposed disposal would enable the group to realise its investment in the property. - By The Star