China Press, 9 June 2011 - Dijaya buys land worth almost RM400 million for mixed development with RM2.5 billion gross development value

China Press, 9 June 2011

(Petaling Jaya, 8 June 2011) Dijaya Corporation Bhd has successfully acquired land worth RM391.1 million through its two subsidiary companies.

According to the company, Dijaya Corporation Bhd’s subsidiary, Tropicana Subang Development Sdn Bhd, has acquired four parcels of land worth RM385.5 million.

In a statement, Dijaya said its subsidiary Tropicana Subang Development Sdn Bhd has entered into a sale and purchase agreement with Chunghwa Picture Tubes (Malaysia) Sdn Bhd to acquire the land measuring about 88.5 acres in Country Heights Selangor, Subang.

Dijaya Corporation Bhd plans to develop the land into a mixed residential and commercial development with an expected gross development value (GDV) of RM2.5 billion.

Meanwhile, another subsidiary of Dijaya, Tropicana Kampar Development Sdn Bhd has also acquired 12.9 acres of land for RM5.6 million in Kampar, Perak.

The land would be converted into a mixed residential and commercial development with an estimated GDV of RM123.7 million.

The company, today, entered into a sale and purchase agreement with Chunghwa Pictures Tubes (Malaysia) Sdn Bhd. Present are the Managing Director of Dijaya Corporation, Group Chief Executive Officer, YBhg Tan Sri Dato’ Danny Tan Chee Sing; Chunghwa Pictures Tubes

Managing Director, Chow Mun Yuen; and Financial Controller, Liow Teck Chee.