Kimlun Medini buys land for RM31.06 mil

KUALA LUMPUR:(March 28,2013):  Kimlun Medini Sdn Bhd has entered into a lease purchase agreement with Medini Land Sdn Bhd to acquire two parcels of freehold land for RM31.06 million.

Kimlun Medini is wholly-owned by Kimlun Corp Bhd. In a filing to Bursa Malaysia, Kimlun Corp said the two parcels of land,
totalling 2.149 hectare, is located adjacent to each other within the Nusajaya flagship zone in Johor Baru.

"Kimlun Medini plans to develop serviced apartments, offices and retail properties on the land. The development is expected to commence within 24 months and slated for completion within six years," it said.

Kimlun Corp is confident that the development would be well received given its strategic location. - Bernama