SBC buys KL prime land for project

KUALA LUMPUR: SBC Corp Bhd is buying 0.2ha of freehold land in Bukit Bandaraya here for RM13.5 million cash.

SBC said the title of the land on Jalan Kapas will be amalgamated with the title of another of the company’s freehold tract on the road. Both tracts are intended for a residential project.

SBC said it is buying the site via its 50%-owned subsidiary Goldhill Achiever Sdn Bhd (GASB) from Patrick Chin Yoke Chung. Chin is a director and shareholder in GASB.

“The acquisition by GASB is to be settled by cash through its internal funds and bank borrowing. The exact mix of internal funds and bank borrowing will be decided by its management at a later stage.

This article first appeared in The Edge Financial Daily, on April 1, 2014.


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