KUALA LUMPUR: LBI Capital Bhd (LBI), through its subsidiary Goldmount Resources Sdn Bhd (GRSB) has entered into a sales and purchase agreement on May 19 to acquire a 10.25-acre vacant leasehold land in Selangor from Sanjung Hemat Sdn Bhd and Permodalan Negeri Selangor Bhd for RM6.096 million.

According to a listing on Bursa Malaysia on May 20, the land is located in Taman Saujana Putra (next to Putra Heights). GBSB aims to build 170 2-storey mid-priced houses.

The area is accessible through the North South Central Link (Elite) and South Klang Expressway (SKVE). It is six kilometers to Subang USJ and 25 km to Kuala Lumpur.

The Group's principal activities are developing residential and commercial properties. Other activities include manufacturing and selling of rubber products, trading and assembling of compressors for auto air-conditioners and providing investment holding.

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