KUALA LUMPUR (June 20): Selangor Dredging Bhd (SDB) is selling Wisma Selangor Dredging along with the land on Jalan Ampang here for RM480 million cash.
Assuming that the proposed disposal had taken place on March 31, 2016, SDB said it is expected to give rise to a gain of RM146.8 million at the group level.
The property developer added that the proposed disposal will provide it with an opportunity to unlock its investment in the property and generate immediate cash flow for the group. It will also enable the group to repay bank borrowings.
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