Naim selling land to Sarawak Economic Development Corp for RM340m

TheEdge Fri, Jul 17, 2020 03:13pm - 1 year View Original


KUALA LUMPUR (July 17): Naim Holdings Bhd's wholly-owned subsidiary Petrochemical Hub Sdn Bhd (PHSB) is selling two parcels of vacant land measuring some 405.6 hectares in Bintulu, Sarawak to the Sarawak Economic Development Corp for RM340 million to enable the seller to unlock the value of the assets and propose a dividend to shareholders.

In a statement to Bursa Malaysia today, Naim said the lands are located at the Kidurong Industrial area off Jalan Sabekas at Tanjong Kidurong, Bintulu. The lands have a 99-year tenure each expiring in November 2112, according to Naim.

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