KUALA LUMPUR: DKLS INDUSTRIES BHD [] is acquiring 155.73 acres of leasehold land in Perak for RM51.83 million to be developed into a mixed development project with residential and commercial lots.
In a filing Wednesday, June 15, DKLS said its wholly owned unit DKLS Premierhome Sdn Bhd had entered into five separate sale and purchase agreements to buy the parcels of land in Kampung Razak in Hulu Kinta.
It said the land had a leasehold tenure of 99 years that will expire in November 2107, and the land was currently in an undeveloped state and partly occupied by squatters.
DKLS said it was too preliminary at this stage to ascertain the total development cost, the expected profit to be derived and the expected commencement and completion date of the project.
'The proposed acquisition will enable DKLS to have potential appreciation in its investment and facilitate future property development to be undertaken in due course,' it said.
The company said the land was strategically located between two trunk roads in Ipoh namely, Jalan Kuala Kangsar and Jalan Jelapang, and runs along the North-South Expressway passing through Ipoh.
'In view of its strategic location and favourable accessibility, the board believes that the land has a good development potential which could help to enhance DKLS's future earnings,' it said.
DKLS said the acquisition and the development cost of the land would be financed through internally generated funds and/or bank borrowings.
In a filing Wednesday, June 15, DKLS said its wholly owned unit DKLS Premierhome Sdn Bhd had entered into five separate sale and purchase agreements to buy the parcels of land in Kampung Razak in Hulu Kinta.
It said the land had a leasehold tenure of 99 years that will expire in November 2107, and the land was currently in an undeveloped state and partly occupied by squatters.
DKLS said it was too preliminary at this stage to ascertain the total development cost, the expected profit to be derived and the expected commencement and completion date of the project.
'The proposed acquisition will enable DKLS to have potential appreciation in its investment and facilitate future property development to be undertaken in due course,' it said.
The company said the land was strategically located between two trunk roads in Ipoh namely, Jalan Kuala Kangsar and Jalan Jelapang, and runs along the North-South Expressway passing through Ipoh.
'In view of its strategic location and favourable accessibility, the board believes that the land has a good development potential which could help to enhance DKLS's future earnings,' it said.
DKLS said the acquisition and the development cost of the land would be financed through internally generated funds and/or bank borrowings.
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