PETALING JAYA: Shareholders of YNH Property Bhd
have greenlighted the disposal of Kiara 163 Retail Park and AEON Seri Manjung for a total of RM422.5mil in cash to ALX Asset Bhd at an EGM held yesterday.
YNH’s independent non-executive director Ching Nye Mi said the disposal will generate an infusion of RM422.5mil into the YNH group.
This will strengthen its balance sheet while allowing the group to gain more headroom to secure the future funding required to finance other exciting projects, as well as kick-start its flagship project, Menara YNH.
Ching said YNH remains optimistic on the Malaysian property sector outlook and expects to continue to receive rental income of approximately RM6.4mil per year from its current properties located in Perak.
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