Glomac to buy land for RM9m

Posted on | October 6, 2009

By BUSINESS TIMES

PROPERTY developer Glomac Bhd (5020) plans to buy 17.4ha of leasehold land in Ijok, Kuala Selangor, for RM9 million from Pertubuhan Peladang Kawasan Kuala Selangor.

Glomac said it will finance the acquisition through a combination of internally generated funds and bank borrowings.

The proposed acquisition is part of Glomac’s strategy to extend its development in the Sungai Buloh growth area as well as Glomac’s overall plan to increase its landbank in the existing Bandar Saujana Utama township.

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