DRB-HICOM to buy land in Melaka

Barring any unforeseen circumstances, DRB-Hicom said the medium to long-term prospects of the land are favourable, given their strategic location

PETALING JAYA: DRB-Hicom Bhd is proposing to acquire 287.73 acres in Alor Gajah, Melaka for RM240mil.

In a filing with Bursa Malaysia yesterday, the company said Hicom Glen Sdn Bhd, a wholly owned subsidiary of Glenmarie Properties Sdn Bhd, which in turn is an indirect wholly owned subsidiary of DRB-Hicom, had entered into a conditional sale and purchase agreement with Ekslusif Pesona Sdn Bhd to acquire nine parcels of freehold land and one parcel of leasehold land.