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Tuesday, September 23, 2014

L&G with RM300mil cash in hand eyes land in Klang Valley, Johor and Penang


KUALA LUMPUR: Land and General Bhd (L&G), with RM300mil cash in hand and gearing ratio of 0.17, is exploring opportunities to acquire more land.
Managing director Low Gay Teck said the group was eyeing land in the Klang Valley, Johor Baru and Penang for the development of residential projects.
“The land held for development in Sungai Buloh, Tebrau and Sungai Petani has a net book value of RM38.06mil,” he told reporters after the company’s AGM yesterday. Low said the company was reviewing a few proposals for industrial land in Johor.
“For the land in Sungai Petani, we are waiting for an appropriate time to develop it,” he said. Low said the group was keen to explore Vietnam in the future as part of its expansion plan, following its overseas joint venture project, Hidden Valley, in Melbourne, Australia. – Bernama

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