Malaysian real estate firm Berjaya sells land for $232 mln

KUALA LUMPUR Mon Aug 11, 2014 8:23am EDT

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KUALA LUMPUR Aug 11 (Reuters) - Malaysian real estate giant Berjaya Corporation Berhad is to sell over 4,300 hectares of land for 743 million ringgit ($232 million) and will use the proceeds to help repay borrowings and for working capital.

The land, a palm oil plantation located in the state of Selangor, would be sold to Tagar Properties Sdn Bhd, Berjaya Corp said in a statement on Monday.

It said the proposed disposal includes the palm oil mill on the land plus all equipment and machinery.

Tagar Properties is principally involved in forest plantation. (1 US dollar = 3.1965 Malaysian ringgit) (Reporting By Trinna Leong; editing by Keiron Henderson)

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