Expecting the sale of properties in Johor and Sungai Buloh to generate over RM200 million, Malaysia Building Society Berhad (MBSB) is confident of a full recovery for its investments apart from gaining land appreciaton throughout the years.
According to a report by StarBiz, MBSB president and chief executive officer Datuk Ahmad Zaini Othman stated, "The Johor land will be disposed of under a scheme endorsed by the board this morning, while the Sungai Buloh land disposal is still waiting for legal confirmation."
He added that the bidding process is slated to start this coming Monday (9 April) while a separate piece in Johor under disposal scheme is pending payment confirmation from its purchaser.
The company's annual report disclosed MBSB's ownership of 22.7 acres of leashold land in Bandar Yahya Awal, Johor and 14 acres of freehold land in Sungai Buloh.
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April 2012 Property News
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