KUALA LUMPUR (Jan 27): ACME Holdings Bhd unit, Ascall Sdn Bhd, is selling 12.41 hectares of land in Pulau Pinang to Seal Properties Sdn Bhd, for RM18.62 million.

In a filing to Bursa Malaysia, the group said that the sale consideration represented an appreciation in the value of the properties, since it was acquired in 2013 for RM8.76 million.

ACME estimated a net gain of RM7.42 million from the disposal, which would translate into earnings per share of 3.53 sen to the group, for the financial year ending March 31, 2015.

The transaction is expected to be completed in the second half of the year, it added.

Business & Markets

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