KUALA LUMPUR (June 21): Shares in Selangor Dredging Bhd jumped 15.62% in early trade this morning after the company said it is selling Wisma Selangor Dredging along with the land on Jalan Ampang for RM480 million cash to Golden Eagle Realty Sdn Bhd, for which it is expected to gain RM146.8 million at the group level.

At 9.02am, Selangor Dredging rose 15 sen to RM1.11 wih 264,400 shares traded.

The property developer said the disposal would allow it unlock its investment and generate immediate cash flow, which can be used to repay bank borrowings. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.

SHARE
SPONSORED CONTENT
AVÉA @ Andaman: E&O’s premium seafront master-planned township in Penang

Living by the water reshapes the way daily life is experienced, where a quiet grace naturally draws people outdoors.

read more
RELATED POSTS
  1. Paramount completes RM257.9 mil Jalan Ampang land acquisition from IOI Properties
  2. Selangor Dredging maintains 3 sen dividend and strengthens cash position despite FY2026 loss
  3. Alliance Bank unveils new 24-floor office suite on Jalan Ampang