MCA buys property


THE Malaysian Chinese Association (MCA) is buying Menara Multi-Purpose for RM375 million. A freehold property, as at July, the building was earning RM2.1 million a month in rental income.

Multi-Purpose Holdings Bhd will see an estimated gain of RM199.6 million from the sale. Proceeds from the sale will be used to pare down the group’s debt.

– Malaysia Real Estate News

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