Libra Group to sell M'sian investment property for S$8m

Singapore

MECHANICAL and electrical engineering company Libra Group is selling an investment property comprising 12 adjoining plots of leasehold land in Kuala Lumpur for S$8 million, according to filings on the Singapore Exchange on Thursday.

Under a conditional deal signed on April 3, Libra unit YC Travel & Tours Sdn Bhd will sell the property to David Lian Foo Kuan, an independent third party. The disposal is part of a post-acquisition covenant stemming from Libra's acquisition of the holding company of YC Travel & Tours, a deal in which Libra bought over the business, but did not want the properties.