KUALA LUMPUR: Kimlun Corp Bhd
’ssubsidiary Kii Melodia Sdn Bhd has purchased two plots of freehold commercial land in Plentong, Johor Baru from Sri Alam Properties Sdn Bhd for RM40.5mil cash.
In a filing with Bursa Malaysia, the engineering and construction firm said the plots were 6.08 acres and 5.04 acres, respectively. The purchase consideration translates to about RM83.61 per sq ft.
Kimlun said the proposed acquisition provides an opportunity for the group to increase the size of its land bank in a strategic location to enhance its future revenue and earnings.
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