PLB purchases Penang land for RM5.5m

Property News/ 18 January 2013 Leave a comment

KUALA LUMPUR: PLB Engineering Bhd’s wholly-owned subsidiary, PLB Land Sdn Bhd, has signed a sale and purchase agreement with Perfect Crystal Sdn Bhd to buy five parcels of land, totalling 611 square metres in north-east district in Penang, for RM5.5 million.

The purchase will be financed from internally generated funds, it said in a filing to Bursa Malaysia.

PLB Engineering said the acquisition would increase its landbank to cater for future developments.

The company would reimburse RM300,000 to Perfect Crystal for the rights and interest in the development plans obtained from the Penang Municipal Council.

Source: Business Times

  1. Penang Homes
    January 18th, 2013 at 20:05 | #1

    6000 sq ft RM5.5 mil…. raw land RM 1000 per sq ft…. wow!!

  2. Ah Kong
    January 18th, 2013 at 23:10 | #2

    We don’t want to know what PLB purchases and how much. Whatever
    property with the right price, we buy and if it’s not,we don’t buy.

  3. JY
    January 20th, 2013 at 21:55 | #3

    Where is the actual location?

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