United Malayan Land Bhd (UMLand) has entered into a conditional share sale agreement (SSA) for the proposed acquisition of the entire equity interest in Tentu Teguh Sdn Bhd (TTSB) for RM10.9 million cash.
UMLand, in a filing to Bursa Malaysia here today said, the proposed acquisition would allow access to the land recently acquired by TTSB in the eastern corridor of Iskandar Malaysia, Johor.
Upon completion of the acquisition, TTSB shall become a wholly-owned subsidiary of UMLand.
The developer said the land would be developed into a self-contained township, comprising residential and commercial properties, complemented by community parks and amenities.
The exercise is expected to be completed within 24 month from the date of the SSA. TTSB is a property investor, incorporated in Malaysia on July 9, 2009. -- Bernama
UMLand, in a filing to Bursa Malaysia here today said, the proposed acquisition would allow access to the land recently acquired by TTSB in the eastern corridor of Iskandar Malaysia, Johor.
Upon completion of the acquisition, TTSB shall become a wholly-owned subsidiary of UMLand.
The developer said the land would be developed into a self-contained township, comprising residential and commercial properties, complemented by community parks and amenities.
The exercise is expected to be completed within 24 month from the date of the SSA. TTSB is a property investor, incorporated in Malaysia on July 9, 2009. -- Bernama
