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MTD Capital gains RM34m from land compulsorily acquired by Melaka govt

KUALA LUMPUR: MTD Capital Bhd stands to gain RM34.02 million for its 67.18 acres in Melaka which has been compulsorily acquired by the state government.

Under the acquisition, MTD will receive RM38.64 million for the land in which its original investment cost was RM4.62, based on RM1.58 per sq ft.

MTD said on Sept 2, its unit Metacorp Development Sdn Bhd had accepted the State Government’s offer to compulsorily acquire five pieces of land measuring 67.181 acres under the Land Acquisition Act, 1960 for a total consideration of RM38.64 million.

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