Selangor Dredging associate firm’s land buy

KUALA LUMPUR (July 3): Selangor Dredging Bhd (SDB) announced yesterday its associate company plans to buy 17 parcels of adjacent properties in the prime District 13 in Singapore for S$60.26 million (RM177.95 million), where the latter intends to develop exclusive mid-rise apartments.

In a filing with Bursa Malaysia yesterday, SDB said Tiara Land Pte Ltd, a wholly-owned subsidiary of Champsworth Development Pte Ltd, which is a 50% associate company of SDB International Sdn Bhd, which is in turn a wholly-owned subsidiary of SDB, has accepted options to acquire the properties which are close to Potong Pasir MRT, Woodleigh MRT and Boon Keng MRT.

This article first appeared in The Edge Financial Daily, on July 3, 2018.

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