Boustead to buy LTAT land for RM143.5mil

Financing method: Menara Boustead in KL. Boustead is likely to fund the development of the Jalan Cochrane land through a combination of bank borrowings and internal funds.

PETALING JAYA: Boustead Holdings Bhd’s subsidiary, Mutiara Rini Sdn Bhd, will acquire a prime land worth RM143.5mil in Kuala Lumpur from Lembaga Tabung Angkatan Tentera (LTAT).

In a filing with Bursa Malaysia, the company said the proposed acquisition is aimed at expanding Boustead’s land bank and investing in strategic property projects in the capital.