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Wednesday, March 28, 2012

BRDB to proceed with disposal of properties

PETALING JAYA: Bandar Raya Development Bhd (BRDB) will proceed with the proposed disposal of BR Property Holdings Sdn Bhd, CapSquare Retail Centre and Permas Jusco Mall via a tender exercise.

In a note to Bursa Malaysia yesterday, BRDB said its board noted that while Ambang Sehati Sdn Bhd, its second largest shareholder, is still evaluating its plan to increase its stake in the company (which may or may not result in a general offer), the latter has yet to confirm its decision to proceed with the exercise.

BRDB said it was working with its legal and financial advisers to implement the proposed disposal in an efficient manner.

By The Star

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