GuocoLand unit divests property in Bandar Johor Bahru for $46m

The property is a leasehold land and a hotel erected on it.

GuocoLand Limited’s wholly-owned subsidiary, JB Parade, has sold its property in Bandar Johor Bahru, Malaysia, for $46m (RM150m).

The property is a piece of leasehold land measuring approximately 24,040 sqm with a hotel built on it. The sale includes a listing of plant, equipment, fixtures and fittings situated at the property.

Restoran Kisap, a wholly-owned subsidiary of YTL Hotels & Properties, will purchase the property.

In the group’s bourse filing, it was disclosed that the purchaser is unrelated to GuocoLand and its subsidiaries.

It was also said that the transaction is not expected to have any material effect on the consolidated net tangible assets or earnings per share of the GuocoLand Group for the financial year ending 30 June 2026.