KUALA LUMPUR: Benalec Holdings Bhd has entered into an agreement with Ultra Harmony Development Sdn Bhd to dispose of 51.4ha of commercial land in Malacca for RM235.13 million.

This includes land that will be or has been reclaimed by its wholly-owned unit, Benalec Sdn Bhd.  

Benalec said proceeds from the sale will be used to reduce debt and finance ongoing and future reclamation projects, it told Bursa Malaysia yesterday.