The Edge, 16 August 2011 – Dijaya rises on new property project plans

The Edge, 16 August 2011

KUALA LUMPUR: Dijaya Corp Bhd shares rose on Tuesday, Aug 16 as investors were positive on its joint venture to undertake property projects near Johor Baru with a gross development value (GDV) of RM2.8 billion.

At 9.30am, Dijaya was up four sen to RM1.56 with 135,200 shares traded.

The projects would be built on two pieces of land which Magical Heights Sdn Bhd’s (MHSB) was acquiring from Trident World Sdn Bhd for RM220 million.

Dijaya and Iskandar Waterfront Sdn Bhd each has a 50% stake in MHSB.

MHSB had entered into a conditional sale and purchase agreement with Trident World Sdn Bhd to acquire 125 acres of land for RM165 million and 15 acres from RM55 million.