KSL’s unit acquires land in Johor for RM133.59m

KUALA LUMPUR, March 12 — KSL Holdings Bhd has proposed to acquire two parcels of leasehold land measuring 47.73 hectares in Tebrau, Johor Bahru for RM133.59 million cash.

In a filing with Bursa Malaysia, the property developer said its wholly-owned subsidiary, Goodpark Development Sdn Bhd, today signed a conditional agreement to buy the land from Grace Versatile Sdn Bhd.

KSL said the exercise would enlarge the group’s current land bank and enhance its future revenue and earnings.

“The land will be used for landed properties development and further enhance its presence in the property market in Johor,” the company said.

The proposed purchase would be funded via a combination of internally-generated funds and/or bank borrowings, added KSL. — Bernama

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