Media Chinese disposes Canadian property for RM20mil
KUALA LUMPUR: Media Chinese International Limited is disposing of its property in Canada to Da Xing Investment Ltd for RM19.88 million following the cessation of its Canadian media operations on Feb 1.
Media Chinese International Limited is selling its Canadian property to Da Xing Investment Ltd for RM19.88 million, following the shutdown of its Canadian media operations on February 1st. The property, which was once used as the company's operations office and printing facility in British Columbia, has been vacant since the end of its media operations.
The land and a two-storey industrial building, covering a total of 18,800 sq ft, is up for sale. The land measures approximately 0.23 hectares. The company believes that this disposal provides an excellent opportunity to realize the property's value and allocate the proceeds towards other business and operational needs within the next twelve months from the completion of the sale.
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