KUALA LUMPUR, March 9 — Diversified palm oil group Kulim (Malaysia) Bhd plans to dispose its investment property, Menara Ansar, in Johor Baharu for RM105 million.

The divestment will be satisfied part cash with the company set to receive RM63 million, said managing director Ahamad Mohamad in statement today.

The remainder will be via the issuance of 42.9 million new units of Al-Aqar KPJ Real Estate Investment Trust (REIT) at an issuance price of RM0.98 per unit.