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Tuesday, October 16, 2012

Tradewinds in land status swaps

KUALA LUMPUR: Tradewinds Corp Bhd said it has exercised the option to enter into agreements with Northern Gateway Free Zone Sdn Bhd and Benua Perdana Sdn Bhd for the exchange of the Malay reservation status of several pieces of land for a total consideration of over RM28.7 million.

These lands, measuring more than 40.5ha, are calculated at RM5 per sq ft.

“The proposed land status swapping exercise is initiated to enhance the value of the lands involved in the exercise,” said the company in its filing to Bursa Malaysia.

By Business Times

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