Y&G acquires four parcels of land in Selangor totalling RM395mil
In a filing with Bursa Malaysia, the real estate developer said it was acquiring three parcels of land in Sepang measuring 95.02 acres from Nurani Saujana Sdn Bhd for RM206mil.
It also said it was acquiring a parcel of land measuring 367 acres in Kuala Selangor, Selangor from Asian Regal Holdings Sdn Bhd for RM189mil.
Additionally, Y&G said it was acquiring Konsep Wawasan Sdn Bhd for RM82mil.
'The proposals are carried out as part of the ordinary course of business of Y&G Group as a property developer, with the aim of enhancing its landbank for future development, thereby ensuring continued development opportunities for the group going forward.
'Premised on the above, the board is of the view that the proposals are in the best interest of the group, as they support the expansion of the group's property development business through the acquisition of new landbank for future projects..'
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PETALING JAYA: Y&G Corp Bhd is acquiring four parcels of land totalling 462 acres in Selangor for RM395mil. In a filing with Bursa Malaysia, the real estate developer said it was acquiring three parcels of land in Sepang measuring 95.02 acres from Nurani Saujana Sdn Bhd for RM206mil. It also said it was acquiring a parcel of land measuring 367 acres in Kuala Selangor from Asian Regal Holdings Sdn Bhd for RM189mil. Additionally, Y&G said it was acquiring Konsep Wawasan Sdn Bhd for RM82mil. 'The proposals are carried out as part of the ordinary course of business of Y&G as a property developer, with the aim of enhancing its landbank for future development, thereby ensuring continued development opportunities for the group going forward. The board is of the view that the proposals are in the best interest of the group,' it added.
