KUALA LUMPUR, Dec 2 (Reuters) - Malaysian property developer MK Land Holdings Bhd (MKLH.KL: Quote, Profile, Research, Stock Buzz) plans to sell non-core assets worth up to 400 million ringgit ($110.5 million) to fund new projects to be launched next year, a newspaper said on Tuesday.
The company also plans to sell land worth 200 million ringgit to pare debt, the Business Times newspapers said.
"This is all part of our reorganisation strategy to turn around MK Land," the paper quoted Mustapha Kamal Abu Bakar, the company's chief executive, as saying. He said the company was in talks with potential buyers for some of the properties and hopes to seal deals next year.
MK Land currently has eight projects in the country, worth more than 10 billion ringgit, the paper said. ($1=3.621 Malaysian Ringgit) (Reporting by Faisal Aziz)
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