PETALING JAYA: A wholly-owned subsidiary of SEAL Incorporated Bhd has entered into sales and purchase agreement to dispose of 35.55 hectares (ha) of land to Tristar Bay Sdn Bhd for RM30mil.

The parcel, known Lot No. 65140, Bandar Amanjaya, Daerah Kuala Muda in Kedah, held under HSD 127766, includes an area measuring about 1.16 ha which has to be surrendered to the relevant authorities for access road.

SEAL Inc said in a Bursa statement that it wanted to realise profit via the sale, thereby enhancing the working capital for SEAL Group.

The property was acquired in April 2013 for R14.02mil.

SEAL Incorporated’s core business is property development.