- On 18.959ha of land in Kuala Nerus district, Terengganu.
KUALA LUMPUR (Aug 10): KPower Bhd's wholly owned unit KPower Development Sdn Bhd (KDSB) has received approval from the Terengganu state government to develop affordable and mixed housing development on 18.959ha of land in Kuala Nerus district, Terengganu.
KDSB is principally involved in property development.
In a Bursa Malaysia filing on Wednesday, KPower said 4.85% of the gross development value will be attributable to the state's affordable housing fund, which is under the purview of the housing department of Terengganu's state secretary.
The property development is expected to contribute positively to KPower's net assets, consolidated earnings, and earnings per share for the financial year ending June 30, 2023 (FY23) to FY25.
KPower shares closed down one sen or 3.57% to 27 sen on Wednesday, valuing the group at RM146.56 million. The counter has fallen 35.71% year-to-date from 42 sen.
TOP PICKS BY EDGEPROP
Bandar Rimbayu
Telok Panglima Garang, Selangor
Citizen 2
Jalan Klang Lama (Old Klang Road), Kuala Lumpur
Citizen 2
Jalan Klang Lama (Old Klang Road), Kuala Lumpur
Citizen 2
Jalan Klang Lama (Old Klang Road), Kuala Lumpur
Razak City Residences
Salak Selatan, Kuala Lumpur