Gadang to buy Semenyih land for RM96mil

PETALING JAYA: Property and construction player Gadang Holdings Bhd has proposed to acquire a 62.84-acre parcel of freehold land in Semenyih, Ulu Langat from Sementar Properties Sdn Bhd for RM95.8mil in cash.

Gadang said in a circular to shareholders that its indirect unit Crimson Villa Sdn Bhd entered into a sale and purchase agreement (SPA) with Sementar to acquire the land on Jan 30. It issued the circular to seek approval from its shareholders as well as provide the relevant information on the acquisition. The company will hold an EGM on April 23 to obtain approval for the acquisition.