MRCB unit buys land for RM99mil

Posted on | August 17, 2007

By THE STAR

KUALA LUMPUR: Excellent Bonanza Sdn Bhd yesterday bought two parcels of land totalling 95,131 sq ft at Kuala Lumpur Sentral from Kuala Lumpur Sentral Sdn Bhd for RM99mil.

Excellent Bonanza is 60% owned by Malaysian Resources Corp Bhd (MRCB) with the remaining 40% held by Aseana Properties Ltd, a property developer listed on the London Stock Exchange.

The land would be developed into a boutique business hotel and office towers. It will have a gross development value of at least RM620mil, said MRCB in a statement.

You might also like

MRCB in JV to buy land By THE STARKUALA LUMPUR: Malaysian Resources Corp Bhd has entered into an agreement with Quill Sentral...

SDB buys land for RM34.5mil in Selangor By BERNAMA KUALA LUMPUR: Selangor Dredging Bhd's wholly-owned SDB Properties Sdn Bhd yesterday bought...

PLB buys land in Penang By BUSINESS TIMESPLB Engineering Bhd has bought via a public auction nearly 20ha of land in Penang for...

Gromutual buys land for RM44m By THE STAR PETALING JAYA: Property developer Gromutual Bhd said its wholly-owned unit had acquired...