Hardie is jointly developing an integrated commercial and residential properties known as Princess Heights in Sabah. Permaju is buying the firm from Datin Pang Fook Kyun and Andrew Sim.
It will use internal funds and borrowings for the deal, due to be completed by the third quarter of this year. Pang is the wife of Datuk Lim Yen Ngiap, a substantial shareholder of Permaju.
By Business Times
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