The proposed disposal of the land at Pajakan Negeri 46289, Lot 84 Seksyen 63, Town and District of Kuala Lumpur, Federal Territory of Kuala Lumpur is part of the company’s ongoing strategic initiatives to enhance its capital structure to support its business transformation, says OUE Healthcare.
A wholly-owned subsidiary of OUE (SGX:LJ3
) Healthcare Limited (SGX:5WA) has entered into a sale and purchase agreement to dispose of a plot of vacant land in Kuala Lumpur for RM125.0 million ($35.6 million).
In a May 15 announcement, the company says it expects to receive net cash proceeds of approximately RM120.3 million after fees. The sum will be used for working capital purposes.
