KUALA LUMPUR (March 2): Grand-Flo Bhd is planning to buy two properties in Genting Highlands the land and project development rights of an ongoing mixed development known as Grand Ion Majestic (GIM), and the adjacent serviced apartments and commercial lots of a completed project known as Grand Ion delemen (GID) for RM422.89 million.
It is buying the properties from Galeri Tropika Sdn Bhd (GTSB), which is majority owned by NCT Building & Civil Engineering Sdn Bhd (NCT BCE), a wholly-owned unit of NCT Venture Corp Sdn Bhd, in which Grand Flo s executive chairman and group managing director Datuk Seri Yap Ngan Choy holds 80% and his brother Datuk Yap Fook Choy holds 20%.