Inta Bina is buying the 2.72-acre freehold land from QL Resources Bhd’s (KL:QL) wholly-owned QL Agrifoods Sdn Bhd.
KUALA LUMPUR (Dec 6): Construction outfit Inta Bina Group Bhd (KL:INTA) said it is buying a plot of land in Bukit Jelutong, Selangor, for RM23 million, cash, for property development.
Inta Bina is buying the 2.72-acre freehold land from QL Resources Bhd’s (KL:QL) wholly-owned QL Agrifoods Sdn Bhd, its bourse filing on Friday shows. It plans to fund the acquisition with internal funds and bank borrowings.
It believes the future development of the land will contribute positively to its future earnings in the medium-to-long term and deliver sustainable growth.
It expects to complete the land acquisition by the middle of next year.
Inta Bina shares closed unchanged at 45 sen on Friday, giving the group a market capitalisation of RM248.36 million. Year-to-date, the stock has gained 73.1%.
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Source: EdgeProp.my
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