Blumont Group, one of the three counters in the middle of the penny stock saga in 2013, has disposed of a piece of vacant land it owns in Malaysia for RM20.0 million ($6.5 million).
The group’s indirect wholly-owned subsidiary, Trackplus Sdn Bhd, entered into a sale and purchase agreement (SPA) on Sept 15 with Armani Alliance Sdn Bhd. The SPA was conducted in relation to the sale of a property located at No. 8 Jalan Lompat Galah 13/36, Seksyen 13, 40100 Shah Alam, Selangor Darul Ehsan, Malaysia.
The property is a vacant piece of commercial land with a 99-year lease expiring on Jan 22, 2102. It has a land area of around 7,863 sqm.