EcoWorld Malaysia to buy land for RM742mil

Quick Summary:

Eco World Development Group Bhd’s (EcoWorld Malaysia) 81%-owned subsidiary Mutiara Balau Sdn Bhd (MBSB) has inked several agreements with Boustead Properties Bhd (BProp) and its sister companies for the acquisition of 10 parcels of freehold land, covering 847.249 acres in Semenyih, Selangor for RM742.4mil.

They will be funded through a combination of internal funds and bank borrowings.“The exact breakdown of internal funds and bank borrowings will only be determined at a later stage after considering the group’s gearing level and cash requirements for its business operations,” it noted.

While EcoWorld Malaysia owns 81% of MBSB, the remaining 19% is held by BProp.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: SemenyihProject EcoWorldMalaysia Corporate News MixedDevelopment EcoForest2 LandAcquisition /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 00:00:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 460 words

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Sentences: 15 lines

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Copyright Owner: © The Star

News ID: 23465025

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