Wednesday, August 10, 2011

Kamdar buys Shah Alam land to build outlet

KUALA LUMPUR: Kamdar Group (M) is acquiring a parcel of commercial development land in Shah Alam for RM6.2 million to be developed into a retail store.

The company said on Wednesday, Aug 10 that its wholly owned subsidiary Kamdar Stores Sdn Bhd had entered into a sale and purchase agreement with ISY Holdings Sdn Bhd to acquire the land.

On its rationale for the acquisition, Kamdar said it intends to penetrate Shah Alam and the surrounding region market with the store.

It said the acquisition would be financed via internally generated funds and term loan facility from a financial institution.



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