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Tuesday, October 18, 2011

SDB buys property in Singapore

KUALA LUMPUR: Selangor Dredging Bhd (SDB) says Champsworth Development Pte Ltd (Champsworth), has served on the sale committee, a Call Option Notice to sell a property in Singapore.

The property is known as The Village, situated at Pasir Panjang Road, Singapore.

In a filing to Bursa Malaysia today, SDB said the total purchase
consideration for the property is RM223.75 million and was agreed upon on a willing buyer and willing seller basis.

Champsworth is a 50 per cent associate company of SDB International Sdn Bhd, which in turn is a wholly-owned subsidiary of SDB.

SDB said if the acquisition of the property is duly completed, the purchase consideration and development will be funded by a combination of internally generated funds and/or bank borrowings of Champsworth.

By Bernama

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