JIANKUN ACQUIRES RM13 MLN LAND IN MELAKA
KUALA LUMPUR, Dec 31 -- Jiankun International Bhd's wholly-owned subsidiary, Key Success Development Sdn Bhd today signed a sale and purchase agreement with Cash Support Sdn Bhd to acquire a leasehold land in the Melaka Tengah District, Melaka for RM13 million.
In a filing with Bursa Malaysia, Jiankun said the proposed acquisition would provide opportunity for the group to expand its development business outside the Klang Valley in line with the group’s strategy.
It also represented a strategic investment, after taking into consideration the location of the land and the intention for the proposed development of two blocks of serviced apartment and one block of 28-storey hotel.
On prospects, the proposed acquisition is part of the group’s expansion plan.
"In view of the Amani Residence project is currently at the stage of completion, the group has been actively sourcing for land bank for suitable projects," it added.
-- BERNAMA
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