Guocoland (Malaysia) Bhd plans to buy a piece of freehold land, measuring 3,030 square metres in area in Kuala Lumpur's Changkat Kia Peng area. The company also intends to acquire two bungalows in the same district, which will bring its total investment in Changkat Kia Peng to RM56.48 million.
To fund the purchase, GuocoLand shall be utilizing its internal funds, coupled with borrowings. In a statement released to Bursa Malaysia, the company envisages this deal to help increase its landbank for development.
