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Tuesday, March 24, 2009

Magna Prima buys land for RM148mil

KUALA LUMPUR: Magna Prima Bhd’s wholly-owned subsidiary, Twinicon (M) Sdn Bhd has entered into an agreement with the Lai Meng Girls’ School Association for the proposed acquisition of land for RM148.151mil.

The proposed acquisition involved a total of 10,587.5 sq m, the company said in its filing with Bursa Malaysia.

It said with the intention to undertake an integrated commercial and/or residential development project, the proposed acquisition was expected to contribute positively to the group’s earnings in the future. — Bernama

The proposed acquisition was expected to be completed by 2015, it added.

By The Star

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