KSL Holdings Bhd is buying 244 acres of freehold land in Kluang to replenish its landbank for future development activities.
In a filing to Bursa Malaysia today, the company said its wholly-owned subsidiary, KSL Development Sdn Bhd, had entered into a sale and purchase agreement Mengkibol Kemajuan Sdn Bhd to acquire the land for RM55 million cash.
The land is located along Kluang-Rengam main road, approximately four kilometres South East of Kluang town.
“The proposed acquisition will provide the group with the required landbank and expected to achieve medium to long term sustainable income growth and visibility,” KSL said.
–BERNAMA
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