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NewsTambun Indah's landbank to expand to 844 acres, with RM150m acquisition
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Tambun Indah's landbank to expand to 844 acres, with RM150m acquisition
by Cals Thu 05 Jun 2014, 03:16
| Tambun Indah's landbank to expand to 844 acres, with RM150m acquisition |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Wednesday, 04 June 2014 18:01 KUALA LUMPUR (June 4): Tambun Indah Land Bhd's undeveloped landbank in Pearl City is set to expand to 844 acres, with the acquisition of a 209 acre land for RM150 million, according to its managing director, Mr. Teh Kiak Seng. “The proposed land acquisition will enlarge the group’s remaining ongoing and undeveloped landbank in Pearl City to 844 acres, from 635 acres previously”, said Teh, in a press statement today. Teh added that the parcel of land is a good opportunity to strengthen the company’s position as a key developer in Mainland Penang. The acquisition would be funded by the Group’s internally-generated funds and bank borrowings. The transaction is expected to be completed by the fourth quarter ending 31 December, 2014. |
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