GSB buying four companies for RM714m to expand landbank, tap into projects with GDV of RM1.74b

KUALA LUMPUR: GSB Group Bhd is undertaking a corporate exercise to buy several companies via cash and new shares to expand its landbank and scale up its property development business via related party transactions.

The property company said on Friday it was buying Aeon Frontier Sdn Bhd, Kerjaya Prospek Property Sdn Bhd and Kerjaya Hotel Sdn Bhd for a total purchase consideration of RM672mil.