Ekovest sells land for RM66.8mil

TheStar Fri, Feb 23, 2024 12:00am - 1 month View Original


PETALING JAYA: Ekovest Bhd is disposing of 13 parcels of land in Kuala Lumpur to Airman Sdn Bhd in a related-party transaction for RM66.8mil.

In a filing with Bursa Malaysia, Ekovest said the divestment is consistent with its principal business activity as a property investment and development firm, enabling the immediate realisation of the land value.

“This transaction is anticipated to have a beneficial financial effect to the group, reflecting positively on the overall revenue and cash flow.”

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