Business News

Tuesday, 14 April 2015

MRCB submits bid to buy French embassy land

PETALING JAYA: Property developer Malaysian Resources Corp Bhd (MRCB) has confirmed that it has submitted a bid to acquire the French embassy land in Kuala Lumpur.

This confirms a StarBiz report yesterday on the probable RM1.1bil deal quoting sources.

MRCB in its filing with Bursa Malaysia yesterday said the company had on Feb 12 submitted the tender for the French embassy land and is still waiting for the outcome of the tender.

“We will make the appropriate announcement to Bursa Malaysia in accordance with the listing requirements, as and when required,” it said.

According to the report, MRCB was speculated to be in the lead to purchase the French embassy land which is one of the few remaining sizeable parcels of land in the city centre.

According to the sources, MRCB had the best offer on the table for the 7.9 acres that the embassy is disposing through a competitive tender.

If MRCB wins the bid as expected, it would be buying a second piece of land in the city, a week after announcing its purchase of the German embassy’s 1.87 acres in Jalan Kia Peng last week.

The French embassy land, comprising two parcels, with a combined acreage of 7.98 acres along Jalan Ampang is said to be sold at about RM3,188 per sq ft.

Tags / Keywords: Stocks , Earnings , Corporate News , Investing , Property , MRCB

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