Wing Tai Malaysia Bhd expects to record a gain of RM27.63 million from the sale of two pieces of land in Seberang Perai, Penang to Aeon Co. Bhd for RM50.12 million cash consideration.
“The proposed disposal represents an opportunity for WingTM group to dispose the sale property and to realise the cash from the disposal. The net proceeds from the proposed disposal shall be redeployed to WingTM Group’s other property development activities and/ or general working capital purposes,” it said.
The net book value of the two pieces of land is RM12.483 million were acquired by DNP Land on Aug 26, 2005 at RM12.483 million.
DNP Land estimated RM10.01 million to be incurred for its compliance with the conditions including soil tests and clearance. WingTM Group expected to derive RM27.633 million before tax from the disposal.
“The proposed disposal represents an opportunity for WingTM group to dispose the sale property and to realise the cash from the disposal. The net proceeds from the proposed disposal shall be redeployed to WingTM Group’s other property development activities and/ or general working capital purposes,” it said.
The net book value of the two pieces of land is RM12.483 million were acquired by DNP Land on Aug 26, 2005 at RM12.483 million.
DNP Land estimated RM10.01 million to be incurred for its compliance with the conditions including soil tests and clearance. WingTM Group expected to derive RM27.633 million before tax from the disposal.
1 comment:
Land For Sale in Tx circumstances stares somewhat dismal at this point for Severance’s claims; distributes of standing are regularly deduced unfavorably to the urging party in litigation of this nature. Interestingly enough, the Texas Supreme Court’s judgement on Friday creates no cite of their opinion on the mootness issue
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