Teladan Setia to focus on Melaka property sector

Although the company has yet to finalise its choice of land to purchase, managing director Richard Teo Lay Ban (pic) said this is a good time for it to expand its land bank, given the low prices amid the property market slowdown.

KUALA LUMPUR: Ace Market-bound Teladan Setia Group Bhd, which is looking to raise RM77.3mil from its initial public offering (IPO), plans to acquire land parcels worth over RM35mil for its residential projects in Melaka.

The Melaka-based developer is slated to be listed on Bursa Malaysia on March 16.