MALTON BHD [] is acquiring land measuring 56.05 acres in Ulu Kelang for RM105 million for a residential project with an estimated gross development value of RM500 million.
Malton said the acquisition would be financed by internal generated funds and/or bank borrowings.
The company said the proposed development would comprise residential bungalows, semi-detached houses, medium cost apartments, low medium cost apartments and low cost apartments with an estimated gross development value of RM500 million.
“The acquisition, which will increase the land bank for development, is in line with the expansion plan of the core business activities of Malton Group (“Malton and its subsidiaries”) which are property development and CONSTRUCTION [].
“The Acquisition is expected to contribute to the medium and long term profitability and growth of Malton group,” it said.
Malton said the acquisition would be financed by internal generated funds and/or bank borrowings.
The company said the proposed development would comprise residential bungalows, semi-detached houses, medium cost apartments, low medium cost apartments and low cost apartments with an estimated gross development value of RM500 million.
“The acquisition, which will increase the land bank for development, is in line with the expansion plan of the core business activities of Malton Group (“Malton and its subsidiaries”) which are property development and CONSTRUCTION [].
“The Acquisition is expected to contribute to the medium and long term profitability and growth of Malton group,” it said.
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