Harn Len to acquire properties for RM2 million

KUALA LUMPUR: Harn Len Corporation Bhd is proposing to acquire properties from Nusantara Bakti Sdn Bhd, a related party, for RM2 million.

The company said on Tuesday, Aug 10 that the properties comprise five units of shop houses is situated on a freehold land in the Iskandar Development Region (IDR).

“The properties are located within the heart of the Johor Bahru City Centre, in close proximity to the Wisma Maria Medical Centre, the Exhibition Centre, the hotels, the major office and commercial buildings, shopping mall and several tourist attractions,” it said.

The company said that the completion of the acquisition is scheduled for Nov 5, 2010.

It added that the properties are pre-war shop houses built in the early 1930s, and with refurbishment and renovation works, “could be operated as heritage hotel or restaurants”.

“With the development of the IDR, and the promotion of the Johor Bahru City Centre as the historical and cultural tourist spots, the properties to be acquired hold good prospects for value appreciation,” it added.