Tambun Indah Land Bhd’s wholly-owned subsidiary Palmington Sdn Bhd has proposed to acquire 27 parcels of freehold land in Penang worth RM150mil from TPPT Sdn Bhd.
In a filing with Bursa Malaysia, Tambun Indah said it would pay cash for the purchase of the land totalling 84.8ha.
It said the proposed acquisition was in line with Tambun Indah’s strategy to expand its land bank and strengthen its foothold in the property market in mainland Penang.
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