PETALING JAYA: Dijaya Corp Bhd’s 80%-owned subsidiary, Aliran Peluang Sdn Bhd, has entered a sales and purchase agreement to buy 11 parcels of land, measuring a total of 2.4 million sq ft, or 55.07 acres, in Mukim Pulai, Johor, for a total cash consideration of RM105.07mil from the vendor, Chua Joo Cheng @ Chua Su Yin.
Dijaya told Bursa Malaysia that the proposed acquisitions were part of its strategy to continue acquiring sizeable land banks with good development potential in strategic locations, which will provide an opportunity for it to expand and strengthen its existing business.
of property development of residential and commercial properties.
It said it would fund the proposed land acquisitions and development cost of the properties through internally-generated funds and/or bank borrowings. It said the proposed land acquisitions would not have any material effect on its net assets, consolidated earnings and consolidated earnings per share for the financial year ending Dec 31, 2012.
Source by: The Star
Picture courtesy of: trekearth
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