Foreign investor eyes stake in Titijaya

When contacted by StarBiz, Titijaya deputy group managing director Lim Poh Yit(filepic) confirmed that the company was in discussions with several parties but he declined to elaborate.

PETALING JAYA: Titijaya Land Bhd is in an advance stage of negotiation with a few parties, the frontrunner being a large foreign property company, that are looking to buy a stake in the developer, according to sources.

The foreign party, which is not a China company, is interested in Titijaya because of its landbank in prime locations, particularly in the Klang Valley. The foreign party also views the current soft outlook of the Malaysian property environment as an opportune entry point.