Gadang director buys shophouse from subsidiary

KUALA LUMPUR: A director of Gadang Holdings Bhd, Ling Hock Hing entered into a sales and purchase agreement with Mandy Corp Sdn Bhd (MCSB), a wholly owned subsidiary of Gadang for a 3-storey retail shopoffice located in MCSB’s development, M Avenue in Segambut, Kuala Lumpur.

This was announced on Bursa Malaysia on April 13, which stated that the selling price for the shopoffice, before staff discount of 10%, amounted to RM698,888.

Gadang Holdings Bhd is an investment holding company with subsidiaries in civil engineering and construction, property development, water concession, manufacturing and trading of decorative and protective coatings, mechanical and electrical engineering services and oil palm plantation. It was incorporated on Oct 6, 1993, as a public-limited company under the name of Lai Sing Holdings Bhd and subsequently changed to its present name on Nov 7, 1997.