Asian Pac to buy lands in Selangor for RM300m

by TMR

Asian Pac Holdings Bhd’s wholly-owned subsidiary, BH Builders Sdn Bhd, has entered into a sale and purchase agreement to acquire five parcels of leasehold land in Selangor from Jiwa Murni Sdn Bhd for RM300 million.

It told Bursa Malaysia last Friday the five parcels, located within a mixed neighbourhood in Petaling, Selangor, measure 74 acres.

The lands are strategically located and have easy access to major highways, making them a suitable sites for mixed development as well as valuable landbank for the group’s property division.

The proposed acquisition will be funded by internal funds and/or bank borrowings and is expected to be completed by the fourth-quarter of 2019.