The company told Bursa Malaysia yesterday that based on UDA's financial year ended Dec 31, 2010, the audited net book value of the land was RM31.71mil, adding that there are plans to build a 30-storey service apartment building, an eight storey podium car park and a three-storey retail shopping complex.
Nadayu said the acquisition was part of the company's expansion strategy to grow its land banks for development purposes in prime locations across the Klang Valley.
“The proposed acquisition provides an opportunity for the group to acquire a freehold vacant land ready for development that is located at a prime commercial area of Jalan Sultan Ismail, which is within the centre of Kuala Lumpur city.”
Nadayu said the purchase price for the land was a discount of RM10.50mil or about 95% to the market value of RM226mil based on the valuation by CH Williams Talhar & Wong Sdn Bhd on June 15.
The acquisition will be satisfied entirely in cash, and financed via internally generated funds and bank borrowings, it said.
By The Star
Posts
No comments:
Post a Comment