L&G’s RPT deal catches MSWG’s attention

KUALA LUMPUR (March 15): Land & General Bhd’s (L&G) related party transaction (RPT) proposal to take over five property firms from its major shareholder, Malaysia Land Properties Sdn Bhd (Mayland), for RM344 million cash has caught the Minority Shareholder Watchdog Group’s (MSWG) attention as questions remain over the deal.

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DONE DEAL: Damansara Foresta condominium, Bandar Sri Damansara, Selangor

Sold for: RM838,000 (RM520 psf) Concluded by: Nelson Leong (REN 15269) of Cornerstone Realty (012-813 1889) When: August 2016 Noteworthy: ● Freehold ● 1,610 sq ft ● Corner unit ● 3+1 bedrooms and 3 bathrooms ● Bathtub in master bathroom ● Accessible via LDP, Sprint Expressway, MRR2 and NKVE Developed by Land & General Bhd (L&G), Damansara Foresta is a freehold development located in Bandar Sri Damansara.

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