More in business

Business

Thursday, 14 December 2017 | MYT 1:07 PM

Country View records RM91m gain from Kulim land sale

KUALA LUMPUR: Country View Bhd expects to record a gain of RM91mil from the sale of several pieces of land in Kulim, Kedah for RM119.95mil.

The property company said on Thursday its unit Country View Land Sdn Bhd had inked an agreement to sell several piece of land to ECK Property Sdn Bhd.

The first piece of land covers 792,251 sq metres in  Pekan Sungai Karangan, Daerah Kulim and the remaining 138 pieces of land totalling 944,103 sq metres.

Country View said the original cost of investment was about RM28.96mil including the purchase of the labd for RM23.74mil in 2000 and otherdevelopment expenditure of RM5.22mil.

It said the parcels of land are along Lebuhraya Timur-Barat, opposite Taman MBI Desaku, Padang Meha, Kulim, about 20 km due north-east of Kulim Town Centre.