The group says that the land no longer matches its investment objective, and it believes the proceeds can be deployed to better use.
Mewah International announce that G&U Districenters, an indirect wholly owned subsidiary of the company, has entered in a sale and purchase agreement (SPA) to sell a piece of leasehold land located in Selangor, Malaysia measuring approximately 16,147 sqm to a non-related party for about RM14.8 million ($4.4 million).
The purchaser is a foreign owned company incorporated in Malaysia.
