MRCB unit to acquire land for RM335.5m

 Publish date: Thu, 15 Jun 2017, 11:39 PM

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) unit Metro Spectacular Sdn Bhd has signed an agreement with Mayor of Kuala Lumpur to acquire three parcels of land here for RM335.5 million.

The proposed land acquisition was in line with MRCB's plan to increase its landbank to sustain its core business as a property development, engineering and construction company, it told Bursa Malaysia.

"The strategic location of the land and connectivity to public transport infrastructure has made it a sought-after address in Kuala Lumpur, and the board is confident of its prospects, after taking into consideration the scarcity of prime land in the capital city for sizeable commercial development," MRCB said.

The acquisition will be financed via a combination of internally generated funds and/or external borrowings. The proposed land acquisition is expected to be completed by the fourth quarter of 2017. -- BERNAMA

Share this
Labels: MRCB

Related Stocks

Chart Stock Name Last Change Volume 
MRCB 1.15 +0.04 (3.60%) 5,092,100 

  Be the first to like this.


619  204  482  587 

Top 10 Active Counters
 PUC 0.28+0.02 
 HIBISCS-CC 0.09+0.015 
 HUAAN 0.56+0.05 
 SAPNRG 0.72+0.035 
 HIBISCS 1.04+0.095 
 HENGYUAN-CO 0.225+0.09 
 IRIS 0.195+0.01 
 UCREST 0.445+0.025 
 PDZ-WB 0.045+0.005 
 SUMATEC 0.080.00 
Partners & Brokers