KSL acquires land parcel worth RM25.4 mln

KUALA LUMPUR: KSL Holdings Bhd is acquiring a land parcel together with a building atop it in Kuala Lumpur for RM25.4 million.

In a filing to Bursa Malaysia on Monday, June 14, the construction firm said its unit Goodpark Development Sdn Bhd has on the same day entered into a sale and purchase agreement with The Secretary of State for Foreign and Commonwealth Affairs of the United Kingdom of Great Britain and Northern Ireland (SSFCA) for the acquisition.

The 0.84-acre land is located on No. 18, Jalan Madge, Kuala Lumpur.

KSL Holdings said the acquisition is primarily to replenish its landbank and is in line with the group’s objective of increasing its land bank at strategic locations, especially in the fast-growing Kuala Lumpur and the Klang Valley corridors, for its future property development activities.

It intends to finance the acquisition through internally generated funds and/or bank borrowings.

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