PETALING JAYA: Bina Darulaman Bhd (BDB) has entered into a sale and purchase agreement with Paramount Property (Utara) Sdn Bhd to dispose two plots of agricultural land in Kedah for a total of RM24.02 milllion.
In a Bursa filing, BDB said the proposed disposal will unlock the value of the lands since the group has no
immediate plan to develop the lands.
“The proposed disposal is in the best interest of the company and will enable it to raise funds for the working capital requirements and/or repayment of borrowings. The proposed disposal is expected to result in a gain on disposal of approximately RM9.6 million,” it said.
