Felda to sell Lon­don prop­erty

The Star Malaysia - StarBiz - - News -

KUALA LUMPUR: The Fed­eral Land De­vel­op­ment Author­ity’s (Felda) is putting the Grand Plaza Ser­viced Apart­ments in Lon­don for sale as part of its ini­tia­tives to re­or­gan­ise and re­struc­ture its as­sets in or­der to strengthen its fi­nan­cial po­si­tion.

Chair­man Tan Sri Shahrir Ab­dul Sa­mad said the de­ci­sion was made fol­low­ing Felda’s de­ci­sion to dis­pose of as­sets that were not re­lated to its core op­er­a­tions.

“I am con­vinced that the sale of this ho­tel is in line with Felda’s di­rec­tion to re­turn to its core busi­ness and will have a pos­i­tive im­pact on Felda’s fi­nances,” he added.

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