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Wednesday, September 12, 2012

LBI to develop high-end condos

LBI Capital Bhd's wholly-owned subsidiary, Goldmount Resources Sdn Bhd, proposes to acquire four parcels of land measuring 0.9 hectare in Kota Kinabalu, Sabah, for RM6.699 million.

In a filing with Bursa Malaysia, LBI said Goldmount plans to develop high-end condominium project on the land.

The acquisition will increase the development land of the group and is expected to contribute higher earnings in the near future, it said.

By Bernama

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