IJM Land Berhad : Disposes Of Aeon Bandaraya Melaka - 25/6/2010

♦ RM64m disposal gains. IJM Land is disposing of its retail property Aeon Bandaraya Melaka to ADF Tiger III Ltd, a Bermuda-incorporated foreign fund, for RM66.3m cash (plus debt of Aeon Bandaraya Melaka, we believe, taking the cue from the property’s net book value of RM319.4m as at 31 Mar 2010). IJM Land expects to record RM64m gains from the disposal, translating to 5.8sen/share.