Malaysian Bulk Carriers dispose land

Publish date: Fri, 14 Sep 2012, 09:13 PM
Malaysian Bulk Carriers Bhd announced its wholly-owned subsidiary, Awanapuri Sdn Bhd, is disposing of industrial land in
Klang, Selangor to three parties for a total of RM18.390 million.

It expected RM8.948 million gain from the dispoal as it acquired the properties for RM10.203 million in 1995.

It said the properties were initially acquired by the group to develop a warehousing and an inland container depot operation but the group has since wound up the container depot operation and the land has remain vacant for some years.

The proceeds from the sale would be utilised towards the expenses for the disposal estimated at RM550,000 and also to replenish the working capital of the group. Bernama

Labels: MAYBULK

Discussions
Be the first to like this. Showing 4 of 4 comments

lotsofmoney

Let say if you spent 10M in 1995, the interest lost up to 2012 at 3% would be approx. 5M. The rate and assessment for 17 yrs said 2M. The profit of 8.948M is just incorrect.

2012-09-15 09:53

sanyobatt

is it time to go in,sliding a lot,very interested.thanks

2012-09-15 13:28

lotsofmoney

Valuation of the share is cheap, but the present depressed world economy could easily depress the price further. I do not expect any big profit in the near future.

2012-09-16 10:08

sanyobatt

lotsofm,thanks for sharing.

2012-09-16 13:06

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