LBI Capital Bhd's (LBI Capital) wholly-owned subsidiary, Triple Equity Sdn Bhd (TESB), has entered into a sales and purchase agreement with LBS Bina Holdings Sdn Bhd for the acquisition of a parcel of land known as Phase 2A in Kuala Langat, Selangor for RM13.76 million in cash.
In a filing to Bursa Malaysia, LBI Capital said the acquisition was to enhance the group's property development activities.
"TESB plans to develop the said property into 157 units of double-storey houses which will be marketed as mid-priced residential houses," it added.
LBI Capital said the acquisition will increase the group's development land and will contribute higher earnings in the near future. -- Bernama
In a filing to Bursa Malaysia, LBI Capital said the acquisition was to enhance the group's property development activities.
"TESB plans to develop the said property into 157 units of double-storey houses which will be marketed as mid-priced residential houses," it added.
LBI Capital said the acquisition will increase the group's development land and will contribute higher earnings in the near future. -- Bernama
