<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 16): SBC Corporation Bhad (KL:<a href="/askedge/klse/5207" class="ce-stock" target="_blank">SBCCORP</a>) said it is selling a 2.2-acre land in Kuala Lumpur for RM36.6 million.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, the group said the disposal of the land, located in Taman Mastiara, off Jalan Ipoh, presents an opportunity to generate cash flow for its development projects.</p></div>

<div class=newsTextDataWrapInner><p>The group is selling the land via its indirect wholly-owned subsidiary Kiara East Property Sdn Bhd to MEGX Holdings Sdn Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>SBC Corporation expects to record a consolidated gain of&nbsp; RM23.75 million from the disposal for its financial year ending March 31, 2025.</p></div>

<div class=newsTextDataWrapInner><p>The land was bought in March 1999 and the original land cost was about RM3.37 million, it said.</p></div>

<div class=newsTextDataWrapInner><p>Shares in SBC Corporation closed up one sen or 2.5% at 41 sen on Friday, giving it market capitalization of RM105.8 million.</p></div>


SBC Corporation Bhad (KL:SBCCORP) said it is selling a 2.2-acre land in Kuala Lumpur for RM36.6 million.

In a bourse filing, the group said the disposal of the land, located in Taman Mastiara, off Jalan Ipoh, presents an opportunity to generate cash flow for its development projects.

SBC Corporation sells 2.2-acre land for RM37 mil

<p>Here is a brief recap of some corporate announcements that made the news on Wednesday.</p>


WCT, Capital A, Press Metal, Eco World International, Scientex Packaging, Barakah Offshore, Kimlun, Pekat, YBS 

<p>The dollar dropped after the Federal Reserve on Wednesday cut interest rates by half a percentage point, citing greater confidence that inflation will continue to recede to the US central bank's 2% annual target.</p>


Dollar drops as US Fed cuts rates by half a percentage point

<p>The Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.</p>


US Fed cuts rates by half a percentage point, cites 'greater confidence' on inflation

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<p class="thumb-cap">E...

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