Compugates receives RM10m offer of compensation for MEX2 land

by TMR

Compugates Holdings Bhd’s 70%-owned sub-subsidiary, Compugates Development and Mining Sdn Bhd (CDMSB), has received an offer of compensation totaling RM10.15 million from Selangor Land and Resources Department for the compulsory acquisition of part of the land measuring 0.9892 ha for the purpose of Lebuhraya Kuala Lumpur – Putrajaya – KLIA (MEX 2). The total sum comprises CDMSB’s entitlement as landowner at RM950.00 per sq meter totaling RM9.40 million and incidental costs payable to CDMSB totaling RM750,014. In an exchange filing Monday, Compugates noted CDMSB will accept the offer with an objection. CDMSB will seek the necessary legal advice to claim its entitlement, it added.

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