Hap Seng to purchase plot next to Menara Hap Seng for RM103 million

KUALA LUMPUR: Hap Seng Consolidated Bhd’s wholly-owned subsidiary Menara Hap Seng has entered into a sale and purchase agreement with Eastern & Oriental Bhd’s wholly-owned subsidiary Radiant Kiara Bhd to acquire a 4,651 sq m plot of land in the city for RM103 million.

In a statement to Bursa Malaysia, Hap Seng Consolidated Bhd said the acquisition was consistent with the business direction of the company to expand its property division for development and investment holding.

The plot of land, located adjacent to Menara Hap Seng at the intersection of Jalan P. Ramlee and Jalan Tengah in Kuala Lumpur would enable the group to own three parcels of contiguos commercial properties fronting Jalan P. Ramlee from the intersection to the intersection of Jalan Sultan Ismail and Jalan P. Ramlee.