MRCB unit buys land for RM99mil
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KUALA LUMPUR: Excellent Bonanza Sdn Bhd yesterday bought two parcels of land totalling 95,131 sq ft at Kuala Lumpur Sentral from Kuala Lumpur Sentral Sdn Bhd for RM99mil.
Excellent Bonanza is 60% owned by Malaysian Resources Corp Bhd (MRCB) with the remaining 40% held by Aseana Properties Ltd, a property developer listed on the London Stock Exchange.
The land would be developed into a boutique business hotel and office towers. It will have a gross development value of at least RM620mil, said MRCB in a statement. – Bernama
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