KUALA LUMPUR: Ipmuda Bhd is acquiring from Maju Holdings Sdn Bhd 24 office lots worth RM25.7 million as a debt settlement.

Expected to close by the fourth quarter of 2014, the deal will allow Ipmuda to fully recover the long outstanding debt owed by Maju, according to a filing with Bursa Malaysia yesterday.

These lots are located on levels two to seven within Tower 3 of Maju Linq Bandar Tasik Selatan, and are currently under development.

Ipmuda said it is set to enjoy both capital appreciation and rental income thanks to the strategic location of the property, and this will contribute positively to its future earnings. — Jason Tan


This article first appeared in The Edge Financial Daily, on July 25, 2013.

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