Hatten Land unit sells Malacca plot at a loss amid Covid-19 crisis

Singapore

A HATTEN Land subsidiary is set to sell a plot of land in Malaysia for RM28.5 million (S$9.35 million), below its book value of RM32.0 million, which will go towards funding the group's operations and repayment of borrowings.

Measuring 3.781 ha, the plot in Malacca was to have been developed into an integrated mixed development that will comprise a shopping mall, cineplex, convention hall and auditorium, meeting rooms, a hotel block and a serviced apartment block.