Astral Asia to buy smaller plot

PLANTATION, construction and property developer, Astral Asia Bhd, has reduced the size of land it plans to buy in Kuala Kuantan, Pahang, saying it is a much better fit for its mixed property development.

Astral had entered into a sale and purchase agreement with Lembaga Kemajuan Perusahaan Pertanian Negeri Pahang , to pay close to RM5.4 million for a 749.2ha plot of land.

Astral Asia is now paying RM4.24 million for a 599.4ha plot of land.

The land is a mature oil palm estate, known as Ladang Bukit Kuin, which has been proposed for a mixed property development incorporating, the proposed development of Kuantan Hi-Tech Park.

By Business Times