Tadmax to buy land for RM37.4mil

It said the land was intended for commercial development, subject to the approval of the relevant authorities. (Model of one of the projects by Tadmax - Filepic)

PETALING JAYA: Tadmax Resources Bhd will replenish its land bank with the proposed acquisition of a 2.6-acre leasehold plot of land in Cheras, Kuala Lumpur, for RM37.4mil.

In its stock filing, the company said its 55%-owned subsidiary, Builtamont Development Sdn Bhd, had entered into a sale and purchase agreement with Datuk Bandar Kuala Lumpur for the proposed acquisition of the land that came with a 99-year lease, expiring on June 12,2116, at the end of last month.

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