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Berjaya Land To Sell China Mall Project For RM1.4 Billion
Malaysia Daily Bulletin | 17 December 2015
  • Berjaya Land (BLand) is cashing out its investment in Berjaya (China) Great Mall Recreation Centre in Hebei province, China – which is still under construction – for Rmb2.1 billion (RM1.4 billion).
  • The bulk of the disposal proceeds will be earmarked to repay borrowings, creditors and contractors.The group is expected to record a loss of Rmb51.3 million pursuant to the proposed disposal.
  • Once touted by the firm to be the world’s largest shopping mall when completed, the Great Mall project spans 306,260 square metres of land area, and is supposed to comprise a hotel, serviced apartments, restaurants, recreational centres and commercial shops.

Significance: BLand said the disposal provides an opportunity for it to cash out the project and expects the deal to be completed by end-2017, subjected to the approval of relevant Chinese authorities.

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