In a filing with Bursa Malaysia, Dijaya said the land was acquired by its 99.99%-owned subsidiary Ace Rhythm Sdn Bhd and would be turned into a mixed development, consisting of serviced apartments and commercial lots.
“With this acquisition, Ace Rhythm is expected to generate an estimated gross development value of RM650mil from its projects, thus contributing positively to the group's future revenue stream and financial performance,” it said.
By The Star
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