JAG buys land in Klang for RM14.4m

KUALA LUMPUR (Dec 20): Property developer JAG Bhd is buying a piece of freehold land in Klang for RM14.4 million for future development.

The exact use of the land, measuring 16,720 square metres, has yet to be determined, JAG said in a filing to Bursa Malaysia.

The purchase, from Hwee Seng & Co Sdn Bhd, will be financed through a combination of internally-generated funds, fundraising exercise and bank borrowings, the group said.

“Barring any unforeseen circumstances, the proposed acquisition of land is expected to be completed in the second quarter of 2019,” it added.

JAG’s share price closed unchanged at 40 sen yesterday, valuing the group at RM60.62 million. The counter saw 1.53 million shares traded. —

Click here for more property stories.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
  1. YNH Property to establish IMTN programme of up to RM700m
  2. Property developer Paragrene Land to float on Main Market
  3. Berjaya Land 4Q net loss widens to RM126m despite higher revenue