Magna Prima puts off land buy till June 19

MAGNA Prima Bhd’s planned purchase of two pieces of land in Kuala Lumpur for some RM58 million from Muafakat Baru Sdn Bhd is now extended by a further three months to June 19 2010.

Magna wants to build a shopping mall and two blocks of serviced apartments worth some RM730 million on the 4.1ha.

The land is located next to Jalan Kuching and the intersection between Jalan Kuching, Jalan Ipoh and Jalan Kepong.

The deal was first announced in November 2007.

By Business Times