Citaglobal: No immediate plan to develop RM73 mil land on Jalan Tun Razak
The company previously said the land “presents a strategic opportunity” for long-term value growth.
The company previously said the land “presents a strategic opportunity” for long-term value growth.
It is acquiring the stake through its wholly owned subsidiary, Ann Joo Management Services Sdn Bhd (AJMS), from KESB director Datuk Ong Tee Thong, according to a Bursa Malaysia filing on Tuesday.
The consumer electrical and electronic products retailer said the property has increased in value since it was acquired at a cost of RM7.
Ge-Shen said the RM35 million disposal consideration represents an 8.
He also stated that the company had an average take-up rate of about 96% for its completed projects, indicating favourable responses for its products.
“By reason of the breach of the master agreement by Vienna Advantage, Cahya Mata IT has suffered losses and damages.
HCK Capital is controlled by its executive chairman Tan Sri Clement Hii Chii Kok @ Hii Chee Kok with 55.
"The sale proceeds from the proposed disposal are intended to repay bank borrowings associated with the property, with the remainder to be utilised by Mulpha International group as part of its business activities.
The developers’ respective master-planned townships were recognised for their design excellence.
The development features 1,000 units spread across three 26-storey blocks and one 27-storey block, with built-ups ranging from 900 sq ft to 1,959 sq ft.