KUALA LUMPUR: Melaka-based property developer Teladan Setia Group Bhd has proposed to acquire five parcels of land from Bakat Muhibbah Sdn Bhd totalling 136.9ha in Melaka for a cash consideration of RM117.9mil.
Yesterday, the group said its wholly-owned subsidiary Riverwell Resources Sdn Bhd (RRSB) had entered into a sale and purchase agreement with Bakat Muhibbah Sdn Bhd for the proposed acquisition.
In a filing with Bursa Malaysia, the property developer said the five parcels of land would be used for the development of gated and guarded townships.
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