Johan rises 4.17% on plans to develop Puchong land

KUALA LUMPUR (Oct 3): Johan Holdings Bhd rose 4.17% early this morning on the group’s plans to develop part of the 27-acre land in Puchong where the ceramics tiles manufacturing plant of its former subsidiary Prestige Ceramics Sdn Bhd is located.

At 9.09am, Johan rose 1 sen to 25 sen with 503,600 shares done.

The first phase will be a mixed development comprising serviced apartments and commercial development, with a projected GDV of RM364.4 million.

The gross development cost, inclusive of re-valued land cost, is projected at RM294.9 million, giving it a projected gross development profit of RM69.5 million.

The company has applied to the Sepang Municipal Council for a development order for the development of about six acres of the freehold land. — theedgemarkets.com

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