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Yongnam to sell Johor plant for RM153m
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Mindy Tan
Published Tue, Oct 7, 2014 · 09:50 PM
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Singapore
YONGNAM Holdings' wholly owned subsidiary, Yongnam Engineering, has entered into a sale and leaseback agreement on its Malaysian plant in Nusajaya, Johor.
The cash consideration for the plant, to be sold to Axis Real Estate Investment Trust, is RM153.5 million, or about S$60 million. Based on a valuation report issued by CCO & Associates on March 19, the market value of the property is RM167.5 million.
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