Advance Synergy’s cash pile to rise after land sale

KUALA LUMPUR: Advance Synergy Bhd, a company controlled by businessman Datuk Ahmad Sebi Bakar, is selling a piece of land for RM124 million cash. The price tag is equivalent to 95% of the company’s market capitalisation of RM130 million, based on the stock’s closing at 14 sen last Friday.

The land is being sold to Singapore’s real estate giant Mapletree Investments Pte Ltd.