Malton to acquire Ulu Kelang land

KUALA LUMPUR: Malton Bhd is acquiring 56.05 acres in Ulu Kelang for RM105mil for a residential project with an estimated gross development value of RM500mil.

The company said in a filing with Bursa Malaysia that its wholly owned subsidiary, Gapadu Harta Sdn Bhd, had entered into a sale and purchase agreement with Ukay Spring Development Sdn Bhd to acquire the land.

The acquisition would be financed by internal funds and/or bank borrowings, said Malton.

By The Star