12th May 2023 12:39
(Alliance News) - Aseana Properties Ltd on Friday said that it has agreed to sell a number of its unsold residences in Kuala Lumpur.
Aseana Properties is a property developer in Malaysia and Vietnam.
The company has entered into a conditional agreement to sell 32 unsold residences, and will shortly enter into conditional agreements to sell the remaining 25 unsold residences at The RuMa Hotel & Residences in Kuala Lumpur.
The net proceeds for the sale are expected to be MYR72 million, around USD16 million, and is subject to final due diligence by the buyer and receipt of government approval for the sale to a foreign investor.
It is expected that the transaction will complete within six months, whereupon Aseana will make a further announcement.
Aseana Properties shares were trading 2.2% higher at USD0.12 in London on Friday afternoon.
By Holly Beveridge, Alliance News reporter
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