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TA Global to buy 121.14-acre tract in Hulu Selangor for RM74m

KUALA LUMPUR: TA Global Bhd has proposed to acquire a 121.14-acre tract of land in Hulu Selangor for RM73.87 million or RM14 psf, it announced to Bursa Malaysia on Friday, June 3.

The group's unit TA First Credit Sdn Bhd (TAFC) had entered into an option agreement with Talam Corporation Bhd's wholly-owned subsidiary Europlus Corporation Sdn Bhd (ECSB), where the latter grants TAFC an option to buy the parcel.

The purchase consideration was arrived at on a willing buyer-willing seller basis.

Proceeds from the sale will be used to partially pay off the loan facility granted by TAFC to Talam unit Maxisegar Realty Sdn Bhd and reduce the group's gearing and interest cost.

Save for TA Global director U Chin Wei — who is also a major shareholder and director of ECSB — none of the other directors of either group have any interest in the sale.

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