Magna Prima to buy land worth RM40.5m

Posted on | July 16, 2009

By BUSINESS TIMES

PROPERTY developer Magna Prima Bhd plans to buy several parcels of land, with the combined size of over 8.9ha, for RM40.53 million cash.

The land, which includes a parcel of freehold land and several lots of leasehold ones, are located in Gombak.

Magna will use internal funds to pay for a quarter of the price tag and borrow to settle the rest.

“The proposed acquisition is in line with the company’s strategy to develop strategically-located land in high-density areas,” it told Bursa Malaysia.

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