PETALING JAYA: Country View Bhd (CVB) is selling three pieces of freehold commercial land, totaling 36.59 square meters, in Johor Baru to Paragon View Sdn Bhd for RM47.26 million.
In a filing with Bursa Malaysia, CVB stated that the majority of the disposal proceeds will be used to fund ongoing and future development projects.
“The sale of the land is expected to unlock its value and enhance the liquidity position of the CVB group,” the company said.
Additionally, CVB mentioned that the land disposal is anticipated to strengthen the group’s core business and provide overall benefits to the organization.
The land is strategically located in Iskandar Puteri, with excellent accessibility from Johor Baru city via the Western Coastal Highway and Johor Baru Parkway, from Tuas/Jurong in Singapore via the second link, and from other parts of Malaysia via the North-South Highway.
