Bursa Alert
Global Market
NewsPJ Development unit plans to buy Aussie land worth RM439.3m
Page 1 of 1
PJ Development unit plans to buy Aussie land worth RM439.3m
by Cals Fri 20 Jun 2014, 01:51
| PJ Development unit plans to buy Aussie land worth RM439.3m |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Thursday, 19 June 2014 18:30 KUALA LUMPUR (June 19): PJ Development Holdings Bhd’s (PJD) subsidiary has entered into a put and call option deed (PCOD) with Dynasty Falls Pty. Ltd. for the option to purchase land in Melbourne, Australia. The firm, mainly involved in property development, will have the option to acquire the five-acre land for a total cash consideration of RM439.3 million (AUD$145 million). In a statement to Bursa Malaysia, PJD said its 75%-owned subsidiary Yarra Park City Pty. Ltd. today entered into the PCOD with Dynasty Falls. In the event the call or put option under the PCOD is exercised, PJD said Yarra will enter into a definitive sale and purchase agreement by way of a contract of sale of real estate to purchase the land. “The PCOD provides the PJD management with the opportunity to purchase a suitable development land with strong growth potential,” said the firm. “The land is strategically located in the area of Southbank, which is in the inner urban central business district (CBD) and central activities district of the city of Melbourne.” According to PJD, the land is deemed an ideal property for long term development with strong growth potential. “In addition, the acquisition is also in line with the board’s strategy to enhance its profile and diversify its earnings outside Malaysia,” it added. |
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Yong Tai plans RM510 mil mixed development in Ijok with US-listed co's unit
» KNM unit and bidding partner land LOA worth US$1.33b from Petronas
» Yong Tai plans business and land acquisitions for five potential property developments worth RM7b GDV
» S P Setia plans second Aussie project with RM772m GDV
» EPF unit Kwasa Land invites partners to develop RRI land
» KNM unit and bidding partner land LOA worth US$1.33b from Petronas
» Yong Tai plans business and land acquisitions for five potential property developments worth RM7b GDV
» S P Setia plans second Aussie project with RM772m GDV
» EPF unit Kwasa Land invites partners to develop RRI land
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|