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Tuesday, February 12, 2008

Dijaya unit buying land for RM30mil

PETALING JAYA: Dijaya Corp Bhd's indirect wholly-owned subsidiary Nadi Jelita Sdn Bhd has signed an agreement with Beta Fame Sdn Bhd to acquire four parcels of freehold agriculture land for RM29.5mil.

The land, totalling 93.4 acres, is in Kuala Langat, Selangor.

In a filing with Bursa Malaysia yesterday, Dijaya said the proposed acquisition was expected to be completed by the first quarter of 2009.

Nadi Jelita plans to carry out mixed development on the properties with an estimated gross development value of RM270mil.

The purchase was in line with the company's objective to increase its land bank for development to generate long-term sustainable income.

By The Star

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