Quick take: MajuPerak shares rise to 3-year high

TheStar Tue, Sep 22, 2020 09:28am - 5 months ago

KUALA LUMPUR: Shares of Majuperak Holdings Bhd rose in early trade Tuesday following its joint venture with Lagenda Properties Bhd to develop affordable homes in Perak.

The counter added 1.04%, or 0.5 sen to 48 sen, its highest since August 2017.

MajuPerak and Lagenda Properties Bhd are teaming up to undertake an affordable mixed development project on four parcels of land totalling 229.73 acres in Mukim Batang Padang, Perak.

MajuPerak' subsidiary Tenaga Danawa Sdn Bhd had entered into the agreement with Taraf Nusantara Sdn Bhd, a unit of Lagenda Properties Bhd (formerly known as D.B.E Gurney Resources Bhd), to undertake the project which is estimated to have a gross development value of RM295mil.

Majuperak said this was its maiden foray to develop its own landbank in partnership with an experienced property developer.

The project would comprise of 1,374 single-storey terrace houses, 264 double-storey shop houses, a petrol station, a hypermarket and a government agencies' office.

The houses are priced at RM152,000 to RM172,000 per unit and the shophouses at RM284,000 to RM299,000 per unit.

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