KUALA LUMPUR, Jan 13 -- BK Alliance Sdn Bhd, a 51 per cent owned subsidiary of BKG Development Sdn Bhd, has entered into a sale and purchase agreement with Suez Domain Sdn Bhd to acquire a piece of land for RM20.91 million.
BKG Development is a wholly-owned subsidiary of Chin Hin Group Property Bhd.
In a filing with Bursa Malaysia today, Chin Hin said the purchase price for the acquisition will be funded by a combination of internally generated funds, bank borrowings and fundraising exercise.
"The acquisition is in line with the overall strategy of Chin Hin group and to expand its property development segment. The group continuously sources for new land bank at accessible locations for potential development.
"The property measuring 1,943 square metres is located about 4.8 km southwest of Kuala Lumpur," it said.
Malaysian National News Agency
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