Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Tuesday, May 15, 2012

Emas Kiara subsidiary buys land for RM5.3mil

KUALA LUMPUR: Emas Kiara Industries Bhd (EKIB)'s wholly-owned subsidiary, Noblecorp Sdn Bhd, has acquired land in Kulai, Johor, from Creative City Development Sdn Bhd for RM5.258mil.

The company would obtain a bank loan to complete the acquisition which would not only benefit the group but also help diversify into different businesses including investment.

In a filing with Bursa Malaysia, EKIB said the property outlook in Johor was expected to be positive taking into consideration the advanced stage of completion of major infrastructure works.

“Major projects in Iskandar Malaysia are coming on this year and the investment prospects enhanced by the Economic Transformation Programme would also contribute to the overall positive outlook,” it added. - Bernama

Barring unforeseen circumstances, the acquisition is expected to be completed within three months.

By Bernama

No comments: