Paragon Globe unit to purchase 31.1 acres in Pulai for RM60.96mil

KUALA LUMPUR: Paragon Globe Bhd's wholly owned unit Paragon Globe Properties Sdn Bhd has entered into a conditional sale and purchase agreement with Iskandar Capital for the purchase of about 31.1 acres of freehold land in Pulai, Johor Bahru, for RM60.96mil cash.

In a statement to Bursa Malaysia, Paragon Globe said the proposed acquisition is in line with its strategic plan to diversify into property development businesses.