KUALA LUMPUR: DRB-Hicom Bhd's RM240mil acquisition of land from Tradewinds Plantations Bhd appears to be reasonable compared with two recent transactions by Apex Healthcare Bhd and Malakoff Corp Bhd, says AmInvestmentment Bank research.
The purchase comes to about RM830,000 per acre, which it said is reasonable compared with the two recent transactions where the groups acquired 18.8 acres and 176.5 acres for RM20.4mil and RM150mil, translating to RM1.08mil and RM850,000 per acre respectively.
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