The Property Investment Division (PID) of CCB is set to dispose of seven parcels within the Nusa Cemerlang Industrial Park (NCIP), amounting to 90,596.5 sqm. The buyer is STT GDC Malaysia 2 Sdn Bhd, a data centre services provider. The sale, valued at RM117.02 million, is projected to result in a post-tax gain of RM70.01 million (USD1 = MYR4.6785) for CCB, according to announcements made Today.
This financial influx will serve multiple purposes for CCB. It will bolster the company's working capital and aid in the development of additional group-owned land. Furthermore, it will facilitate debt repayment and help resolve existing liabilities.
The market reacted positively to this announcement with a 1.48% surge in CCB's stock value on Tuesday.
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