KUALA LUMPUR (Dec 15): Berjaya Land Bhd (BLand) is buying freehold land in Bentong, Pahang from Tan Sri Vincent Tan and his family for RM38.45 million, or RM10 per square foot, in cash.
In a filing with Bursa Malaysia, BLand said its wholly owned subsidiary Berjaya Engineering Construction Sdn Bhd on Dec 14 entered into a sale and purchase agreement with Deru Klasik Sdn Bhd for the land acquisition.
Berjaya boss Tan is the controlling shareholder of Deru Klasik with a 75% stake, according to the filing.
The present directors of Deru Klasik are Chryseis Tan Sheik Ling, Hew Chee Wai and Tan Choon Lui. Chryseis, daughter of Vincent, owns a 5% stake in Deru Klasik. She is also an executive director and a shareholder of BLand.
Tuesday, 15 Dec 2020 10:48 PM MYT
KUALA LUMPUR, Dec 15 Berjaya Land Bhd’s wholly-owned subsidiary, Berjaya Engineering Construction Sdn Bhd (BEC) has entered into a sale and purchase agreement with Deru Klasik Sdn Bhd to acquire a parcel of freehold in Bentong, Pahang for RM38.45 million.
In a filing with Bursa Malaysia today, Berjaya Land said BEC has proposed to undertake a residential development project on the land, measuring about 3.84 million sq ft, consisting of terraced houses to be built over three years.
“Based on the preliminary plan of the proposed development, the estimated gross development cost and gross development value for the proposed development are RM250.81 million and RM380.20 million respectively,” it said.
Berjaya Land proposes to buy 88 26 acres of freehold land in Pahang thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.