GUOCOLAND (Malaysia) Bhd’s associate company is selling a piece of land in Malacca to Perbadanan Kemajuan Negeri Melaka for RM45 million- The associate, Continental Estates Sdn Bhd (CESB) — a property developer that also operates an palm oil estate — will use the proceeds for working capital and repayment of borrowings- Guocoland said in a stock exchange filing yesterday that the sale will result in a gain of about RM15 million to CESB and RM7-5 million to the group- The land, measuring about 202-5ha, is located in Jasin- ...
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