Wisma Rapid In Hartamas To Be Sold For RM32.3 Million

Rapid Synergy Berhad has entered into a sale and purchase agreement with Segi Permai Sdn. Bhd. for the proposed
disposal of Wisma Rapid in Desa Sri Hartamas for RM32.3 million.

The property consists of a parcel of freehold land measuring approximately 1,338 square metres in the area together with a five-storey commercial building comprising a total of thirty-nine units of commercial lots with a basement car park level known as “Wisma Rapid”.

Rapid said the sale consideration was arrived at on a “willing-buyer and willing-seller” basis, the SPA was drafted after
taking into consideration, amongst others, the indicative market value of the property of RM30,000,000, as last appraised by the Independent Valuer, namely Jordan Lee & Jaafar in the valuation report dated 22 March 2022 obtained for management’s internal review and assessment. The valuation method adopted was the comparison method of valuation approach.

Based on the audited consolidated financial statements of the company as of 31 December 2021 is RM9,742,631 resulting in a net gain from the proposed disposal of about RM19,720,682. Rapid said the sale was to unlock value.

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