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
ECERDC championing East Coast transformation—from exotic charms to economic pivots

Under a collective banner branded as the East Coast Economic Region (ECER), the states of Kelantan, Terengganu, Pahang, and Mersing and Segamat in Johor are becoming a driving force in strengthening the country’s industrial base to attract high-value investments.

read more
RELATED POSTS
  1. Alliance Bank unveils new 24-floor office suite on Jalan Ampang
  2. Selangor Dredging acquires Petaling Jaya land for RM63 mil, eyes RM507 mil GDV project
  3. Golden Crown Residence : A New Benchmark of Vertical Luxury Living