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TNB compulsorily acquires Lion Diversified's land in Kuala Langat for RM9.9m

KUALA LUMPUR (March 2): Part of a land belonging to Lion Diversified Holdings Bhd in Kuala Langat, Selangor has been compulsorily acquired by the district's land office for Tenaga Nasional Bhd (TNB).

In a filing with Bursa Malaysia, Lion Diversified said the land was acquired because a 500kV power transmission line will pass through the land.

The group added that it has accepted the offered compensation of RM9.9 million under protest.

For the second quarter ended Dec 31, 2017, Lion Diversified had narrowed its losses to RM4.75 million, from RM17.83 million a year earlier. But revenue more than halved to RM52.95 million from RM129.23 million.

Lion Diversified's share price closed unchanged today at 3.5 sen with a market capitalisation of RM48.73 million. — theedgemarkets.com

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