PETALING JAYA: Paragon Globe Bhd

(PGB) is proposing to dispose of two parcels of freehold land totalling 2.8 million sq ft in Johor Baru, Johor to Dayone Data Centers Malaysia IIIi Sdn Bhd for RM398.1mil.

In a filing with Bursa Malaysia, PGB said the proposed disposal forms part of the group’s ongoing strategy to optimise its landbank portfolio through the selective monetisation of certain land assets.