OUE Lippo clarifies on media reports regarding Kuala Lumpur land sale

OUE Lippo Healthcare, which owns, manages, and operates hospitals and nursing facilities, on Tuesday clarified on media reports saying it hasn't yet reached a decision to sell a prime parcel of land in Kuala Lumpur.

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OUE Lippo Healthcare, which owns, manages, and operates hospitals and nursing facilities, on Tuesday clarified on media reports saying it hasn't yet reached a decision to sell a prime parcel of land in Kuala Lumpur.

The Edge Singapore reported on November 17 that OUE "is shelving plans to develop a prime parcel of land located in the vicinity of Petronas Twin Towers and Jalan Bukit Bintang in Kuala Lumpur and putting it up for sale."

OUE clarified that it is constantly evaluating potential opportunities so as to enhance value and capital allocation for the Group and its shareholders.

The company added that "any such evaluation is exploratory and preliminary. No decision has been made by the Company to sell the land."

OUE also clarified regarding the sale value of as much as RM200 million quoted in the report "which is more than double what [the Company] paid six years ago – for the 1.17-acre, or 50,860 sq ft, parcel in Jalan Kia Peng".

OUE said "there is no clear basis at this time for stating any expected valuation or expected returns on the sale of the land".

Shares in OUE Lippo were unchanged at S$0.12 on the Singapore Exchange.

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