Johore Tin buys Shah Alam land for RM44.26mil

TheStar Thu, Feb 13, 2020 10:40am - 4 years View Original


“Further development on the proposed acquisition would be announced in due course when the SPA is signed, ” said Johore Tin

PETALING JAYA: JOHORE TIN BHD has acquired a 29-acre piece of land in Shah Alam, Selangor, from Golden Valley Industries Sdn Bhd (GVI) for RM44.26mil.

In a filing with Bursa Malaysia yesterday, the company said the acquisition was made via its subsidiary, Able Dairies Sdn Bhd (ADSB), which had received a letter of intent for sale from GVI.

“An earnest deposit of 2% (refundable) amounting to RM885,204 has been paid for the said proposed acquisition. ADSB will enter into a sale and purchase agreement (SPA) one month from the date of the letter of intent of GVI upon the terms and conditions being confirmed.

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