O&C Resources Bhd is purchasing 4,101 square metres or 1.01 acres of freehold land in Petaling Jaya for RM24.59 million (RM557 psf) from Tropicana City Sdn Bhd (TCSB).
The land, located next to Tropicana City Mall in Petaling Jaya, is currently occupied by an incomplete building structure, which is intended to be developed as a commercial building.
Bakat Rampai Sdn Bhd, a subsidiary of O&C had entered a sale and purchase agreement today with TCSB, wholly-owned subsidiary of Tropicana Corp Bhd.
The purchase price, which represents a premium of RM6.07 million to TCSB’s net book value of RM18.52 million of the land as at Dec 31, 2017, was arrived at on a willing-buyer willing-seller basis.
Lot no: Lot 45822 Seksyen 39, Bandar Petaling Jaya, Daerah Petaling, Negeri Selangor
Land area: 4,101 square metres/1.01-acre
Land price: RM24,587,651.00 (RM557 psf)
Date of transaction: 7 November 2017
Vendor: Tropicana City Sdn Bhd
Purchaser: O&C Resources Berhad
Note: Valuation by Rahim & Co on 30 October 2017 at RM24,940,000.00/ RM565 psf