Far East Group divests Penang property to Oxford Capital for $716k

The asset comprises a two-storey shophouse.

Far East Enterprises or Far East Penang, a subsidiary of Far East Group Limited, has divested Lot No. 565, Seksyen 11W, Bandar George Town, Daerah Timor Laut, Pulau Pinan, for RM2.38m ($716,000) to Oxford Capital Sdn Bhd.

The property at No. 60, Lebuh Noordin, Pulau Pinang, Malaysia, comprises a two-storey shophouse on 233.1790 square meters of freehold land.

Far East Group Limited said the asset is rented to an unrelated third-party tenant.

The property sale is subject to the listing tenancy made between Far East Penang and the tenant.

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