Kerjaya Prospek Buys Land In Selangor For RM112.79 Mln

KUALA LUMPUR, July 1 (Bernama) -- Kerjaya Prospek Group Bhd will acquire three pieces of land in Selangor for RM112.79 million to increase land banks at strategic locations for future growth.

In a filing to Bursa Malaysia today, the group said its indirect wholly owned subsidiary, Senandung Raya Sdn Bhd, has entered into a sale and purchase agreement (SPA) with Sunrise Bright City Sdn Bhd to acquire a freehold land worth RM59.07 million.

It said the land measuring 1.57 hectares is located at 9th Mile Kuchai Road, Petaling, Selangor, and is agricultural land which is currently vacant.

Meanwhile, in a separate Bursa Malaysia filing, Kerjaya Prospek stated that Senandung Raya had also entered into two separate SPAs with Sunrise’s related company, Top Up Properties Sdn Bhd, to acquire two pieces of adjoining freehold land for RM53.72 million.

It said the two land parcels of approximately 0.698 hectares and 0.728 hectares, respectively, are also located at 9th Mile Kuchai Road, Petaling, Selangor.

Kerjaya Prospek said the proposed acquisitions are part of the group’s business expansion in the property investment segment to increase its land banks at strategic locations with growth potential to scale up the property development segment portfolio.

“The exact use of the lands has not been determined at this juncture. The expected gross development value and development costs on the land are subject to various factors,” it said.

-- BERNAMA