(Apex), which last week announced the disposal of four parcels of freehold land in Shah Alam for RM37 million, had initially planned a project with an estimated gross development value of RM86.5 million on the land.
The project was to involve the development of 61 units of shoplots, the company said in a filing with Bursa Malaysia today to provide additional information on the proposed disposal.
The building plan is, however, still pending the Shah Alam City Council’s (MBSA) approval. Most of the 2.39-hectare land is currently vacant except for a small plot which is currently let out to MBSA.
Apex Equity Holdings Bhd, which last week announced the disposal of four parcels of freehold land in Shah Alam for RM37 million, had initially planned a project with an estimated gross development value of RM86.5 million on the land.
KUALA LUMPUR (Dec 28): Apex Equity Holdings Bhd (AEHB) said it intends to dispose of four parcels of freehold land in Shah Alam measuring 23,915.34 square metres for RM37 million cash.
In a filing with Bursa Malaysia, AEHB said its wholly owned subsidiary, Apex Equity Capital Sdn Bhd (AEC) today entered into a sale and purchase agreement with KlangRealty Integrated Sdn Bhd.
AEHB said the proposed disposal is expected to result in a gain of approximately RM4.6 million for the financial year ending Dec 31, 2021.
It said the sales proceeds would be utilised for working capital.
KlangRealty Integrated is an entity registered in Klang, Selangor. The directors of the group are Ong Kwee Lee, Lee Chang Soo, Gan Thiam Kok and On Boon Seng.
KUALA LUMPUR (Dec 28): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Dec 29) may include Chin Hin Group Bhd, CN Asia Corp Bhd, Kotra Industries Bhd, Lii Hen Industries Bhd, New Hoong Fatt Holdings Bhd, Kerjaya Prospek Group Bhd, and Apex Equity Holdings Bhd.
Chin Hin Group Bhd plans to acquire a 51.5% stake in Chin Hin Group Property Bhd (CHGP) for RM88.86 million from its chairman Datuk Seri Chiau Beng Teik and his family. It has signed a sale and purchase agreement with Beng Teik, his son Haw Choon, who is also Chin Hin s managing director, and their vehicle Divine Inventions Sdn Bhd to acquire the 176.61 million shares in CHGP, together with 37.65 million or 30.9% of the warrants in CHGP, for RM88.86 million.