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Thursday, January 17, 2008

LBS disposes of 22 properties for RM3.9million

KUALA LUMPUR: LBS Bina Group Bhd is selling 22 of its properties in its Bandar Putera Indah mixed housing development in Batu Pahat, Johor to Bebas Bakti Sdn Bhd (BBSB) for RM3.92 million cash.

In an announcement to Bursa Malaysia yesterday, it said it had entered into the sale and purchase agreements via its property development unit LBS Bina Holdings Sdn Bhd yesterday.

The properties comprise 20 units of double-storey shop offices and two units of three-storey shops, all of which are reserved as bumiputera units.

LBS said the selling price of the properties was determined via open market prices and expected the disposal to be completed within three years.

The disposal is not expected to have any impact on its earnings or gearing for its financial year ending Dec 31, 2008 (FY08).


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