Guocoland to buy firms

PETALING JAYA: Guocoland (M) Bhd has proposed to acquire PJ City Development Sdn Bhd for RM29.79mil cash.

It told Bursa Malaysia yesterday that the exercise involved the acquisition of five million shares in PJ City from GuoLine Asset Sdn Bhd.

Guocoland also announced that it had proposed to acquire PJ Corp Park Sdn Bhd from MPI Holdings Sdn Bhd for RM258,000 cash. PJ Corp owns two units of low-cost houses in Masai, Johor.

By The Star