Income Tax on Disposal of property

Hello

I am quite curious of this tax related question given by my tutor. May I ask for help
Scenario :
Company A is in the business of developing commercial property for sale. In January 2015, company A commenced construction of a commercial building on a piece of land owned by it. The cost of the land and building were shown as current asset in the Balance Sheet. The construction of the building was financed by short term loan. On 31 December 2016, company A agreed to sell the property which was under construction to company B in consideration for the issues of 3 million shares of RM 1 each in the latter company. On 1 February 2017, the completed building and land was transferred to company B for shares in the latter company which gave rise to a profit of RM 1 million. The company sold the shares in company B 2 months later

1.May I know whether the profit on the disposal of property by company A is subject to Malaysia tax under Malaysia Income Tax Act 1967.
2. Besides, may i know whether the disposal of property is considered as a held for sale or just a disposal of industrial building as the building is classified as current asset in the Balance Sheet

Thank you