KUALA LUMPUR (Oct 2): DutaLand Bhd’s wholly-owned subsidiary has obtained a money lending licence.

In a bourse filing, the group said its unit Sea Resorts Development Sdn Bhd (SRDSB) had obtained a money lending licence, valid from Sept 21, 2020, from the Ministry of Housing and Local Government (KPKT) yesterday under the Moneylenders Act 1951 and Moneylenders (Control and Licensing) Regulations 2003.

The licence will be valid for two years and is renewable upon expiry.

“The licence enables SRDSB to undertake the business relating to money lending activities to enhance income stream and the financial position of the group,” the property developer said.

DutaLand shares closed 1.45% or half a sen lower at 34 sen apiece, valuing it at some RM284.07 million. It saw 370,800 shares transacted.

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