KUALA LUMPUR: Eden Inc Bhd
expects a gain of RM10.9mil after a piece of its land in Kuantan was compulsorily acquired by Malaysia Rail Link Sdn Bhd for the East Coast Rail Link (ECRL) project.
The company said on Wednesday it had received compensation of RM16.71mil arising from the acquisition of 6.38 hectares in Sungai Karang, Kuantan. The affected land is currently a vacant industrial land.
The tenure of the leasehold land, involving 88.34 hectares, is 99 years and expires on Oct 28,2096.
The original cost was RM33.97mil and the audited value as at Dec 31,2018 was RM79.90mil.
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