Share
- The purchase price was determined on a willing-buyer, willing-seller basis, considering the future earnings potential of the development project in Bandar Glenmarie.
KUALA LUMPUR (March 21): Construction firm Inta Bina Group Bhd (KL:INTA) is acquiring a 100% stake in Aliran Restu Sdn Bhd, which holds development rights to three parcels of land in Bandar Glenmarie, Selangor, for RM5 million.
In a bourse filing on Friday, the group said it will fund the acquisition of the interest in Aliran Restu from Zikay Properties Sdn Bhd through internally generated funds.
According to Inta Bina, Aliran Restu has been appointed by the Selangor Housing and Property Board (LPHS) as the developer for the three parcels of land in Bandar Glenmarie.
The purchase price was determined on a willing-buyer, willing-seller basis, considering the future earnings potential of the development project in Bandar Glenmarie, it noted.
The acquisition, which is to be completed by the end of March, provides an opportunity for the group to continue its "development and construction activities", Inta Bina said.
Shares in Inta Bina closed unchanged at 42.5 sen on Friday, giving the company a market capitalisation of RM235.1 million. The stock is down 14.14% this year.
Want to have a more personalised and easier house hunting experience? Get the EdgeProp Malaysia App now.
TOP PICKS BY EDGEPROP
The Sky Residence @ Shamelin
Cheras, Kuala Lumpur
Ayuman Suites Serviced Residence
Gombak, Selangor
Fortune Perdana Lakeside Residences
Kepong, Kuala Lumpur
Anggerik Doritis @ Kota Kemuning
Shah Alam, Selangor
Kemuning Utama Commercial Centre
Shah Alam, Selangor
Setia Damai
Setia Alam/Alam Nusantara, Selangor
Agile Bukit Bintang @ Residensi Agile Delima
KL City, Kuala Lumpur
Taman Perindustrian Meranti Jaya
Puchong, Selangor
ALIX Residences @ Kiara North
Mont Kiara, Kuala Lumpur
