KUALA LUMPUR (Jan 13): Chin Hin Group Property Bhd has proposed to acquire a 1,943 sq metre vacant land in Kuala Lumpur for RM20.91 million to develop office lots.
The group said BK Alliance Sdn Bhd, its indirect 51%-owned unit, is buying the land from Suez Domain Sdn Bhd.
The 94-year lease on the land expires in 2112, it added in a filing with Bursa Malaysia.
"BK Alliance will be submitting a revised proposed development plan and building plan to the relevant authorities for approval.
“Therefore, it is too preliminary at this stage to ascertain the total development cost and the expected profits to be derived from the proposed development," said Chin Hin.
Chin Hin’s share price closed up four sen or 8% at 54 sen, with a market capitalisation of RM185.62 million.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates
TOP PICKS BY EDGEPROP
11 Mont Kiara (MK11)
Mont Kiara, Kuala Lumpur
Taman Bukit Rahman Putra
Bukit Rahman Putra, Selangor
Damansara Heights (Bukit Damansara)
Damansara Heights, Kuala Lumpur
DO MORE WITH EDGEPROP.MY
-
Read newsRead the latest news and in-depth coverage of Malaysian property - what's hot, what's not and more
-
Search listingsFind residential or commercial properties for sale, rental and auction by licensed agents
-
Search new projectsCheck out over 200 new project launches and offers by developers in Klang Valley and other locations
-
Get property market insightsGet your personalized property report (including estimated home value) and find past transacted data
-
Get home design ideasZING.my can help you get started on your renovation project. Find hundreds of design portfolios by professionals in Malaysia
-
Partner with usAre you a real estate agent or home professional? List your properties or portfolio with us for free and get quality leads.