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IOI Properties buys RM1.58bil land from Lee, GDV of RM20b

IOI Properties Group Bhd is buying 400 acres from chairman Tan Sri Lee Shin Cheng (centre) for RM1.58bil in cash and new shares.

PETALING JAYA: IOI Properties Group Bhd is buying 400 acres from chairman Tan Sri Lee Shin Cheng for RM1.58bil in cash and new shares.

The land had a combined gross development value of RM20bil, the company said in a filing with Bursa Malaysia.

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Business , IOI , Properties , MDSB

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