Nanyang Siang Pau, 9 June 2011 - Dijaya buys land worth RM390 million

Nanyang Siang Pau, 9 June 2011

(Kuala Lumpur 8 June 2011) Dijaya Corporation Bhd has acquired four parcels of land in Selangor and three parcels of land in Perak worth RM385.50 million and RM5.6 million respectively through its two subsidiary companies.

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 four parcels of land measuring about 88.5 acres in Pekan Country Heights, Selangor.

These 88.5 acres of land will be developed 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 signed a land purchase deal with Chunghwa Picture Tubes and Makolin Electronics (Malaysia) Sdn Bhd for three parcels of land with an estimated land area of 12.9 acres for RM5.6million in Kampar, Perak.

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