THE Employees Provident Fund (EPF) is buying all the shares in Giant TMC Bhd's property holding subsidiary Hartanah Progresif Sdn Bhd for RM382mil. The acquisition will lead to EPF gaining ownership of all of Giant's retail properties in Malaysia.
Hartanah Progresif will be bought from Giant TMC, which is owned by Hong Kong's Dairy Farm International Holdings Ltd. The acquisition comes with a guaranteed profit of RM32mil a year.
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