An unknown buyer entered into a binding conditional agreement to acquire Hotel Sandakan and Harbour Mall Sandakan from Aseana Properties Limited for approximately MYR 170 million.

An unknown buyer entered into a binding conditional agreement to acquire Hotel Sandakan and Harbour Mall Sandakan from Aseana Properties Limited (LSE:ASPL) for approximately MYR 170 million on June 30, 2023. The consideration of MYR 165 million willbe paid in two tranches. The first tranche of MYR 82.5 million is payable upon signing of the Agreement or within 30 days of signing the Agreement, and the second tranche of MYR 82.5 million is payable on or before 30 September 2023.

The deal is subject to regulatory approval.