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Wednesday, February 22, 2012

Glomac unit buys land in Klang

GLOMAC Bhd’s wholly-owned subsidiary, Kelana Kualiti Sdn Bhd, has bought two parcels of lands via an auction for RM44 million.

The land is located north of Klang town.

Glomac said the acquisition is in line with its core strategy of acquiring suitable development landbank within the Klang Valley with strong potential for prime and sizable new developments.

“The group intends to develop a mixed development project on the lands,” it said in a statement to Bursa Malaysia yesterday.

By Business Times

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