BLand sells 80% stake in loss-making JV firm
In a filing with Bursa Malaysia, BLand said the proposed disposal represents an opportunity for the group to realise its investment in BHandico12.
'For the financial year ended June 30, 2024, BHandico12 recorded an audited net loss of RM17.21mil with the audited net liabilities of RM35.62mil.'
BLand said BHandico12 is principally involved in the property investment and development. Its main project is an integrated mixed property development project known as Hanoi Garden City situated on an approximately 78-acre piece of land in Thach Ban Ward, Long Bien district in Hanoi, Vietnam.
Hanoi Garden City offers a product mix of residential, commercial/retail shops, high-rise apartments, low-rise housing, medical centre/hospital, administrative management building, mall, school and parking lots.
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