Thursday, April 22, 2010Fraser & Neave to gain RM21.98m from Ampang land sale KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&NHB) expects to gain RM21.98 million for the sale of 1.44 acres of partly developed land along Jalan Ampang here for RM53.8 million.
F&NHB said on Thursday, April 22 the freehold land is being disposed of to Star Residence Sdn Bhd.
"The proposed disposal would enable the F&NHB group to immediately realise the profit from the disposal. Elsinburg has todate incurred a total development expenditure of RM28.06 million including land cost.
"It is estimated that upon the successful completion of the proposed disposal, the F&NHB group will derive a gain of RM21.98 million after deducting all fees, costs and expenses related to the proposed disposal," it said.
F&NHB said the proposed disposal of the land was together with a development order and approved building plans for two blocks of serviced apartments, signature offices and retail outlets, collectively called "Ampang Hilir 233 Project".
By The EDGE Malaysia 
Fri May 04, 2012 4:59 pm by demin
Subject: Fraser & Neave to gain RM21.98m from Ampang land sale 
