Latest disposal:
The Board of Directors of UOA wishes to announce that Paramount Properties Sdn. Bhd., (Company No. 686757-K) (“Paramount Properties” or “Vendor”), a wholly owned subsidiary of the Company, had entered into an agreement on 30 December 2013 with Marak Moden Sdn. Bhd., (Company No. 700426-T) (“Marak Moden” or “Purchaser”), to dispose a 12 storey office building bearing postal address Tower 1, Avenue 3, The Horizon, Bangsar South, No. 8, Jalan Kerinchi, 59200 Kuala Lumpur (“Property”) for a total consideration of RM72,540,000.00 only (“Purchase Price”) to the Purchaser.
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The current book value is RM22,895,000 only. The Proposed Disposal is expected to generate an estimated gain on disposal of approximately RM48,211,000 only (“Gain").
Makes me wonder what the market value of the properties held really is !!! As UOS hold %67 of UOADEV This should add M$A11.6 to the bottom line.
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