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Saturday March 2, 2013
Plenitude unit in deal to sell land
PETALING JAYA: Plenitude Bhd's wholly-owned subsidiary, Plenitude Builders Sdn Bhd, has entered into a sale and purchase agreement with Arabayu Sepakat Sdn Bhd, a wholly owned subsidiary of Tan & Tan Developments Bhd, in a proposal to dispose of 15 parcels of freehold land for RM49.2mil cash.
According to the company's filing to the exchange yesterday, the rationale was to unlock land value and realise the capital gain from the company's investment.
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