KUALA LUMPUR: Radium Development Bhd’s wholly-owned subsidiary, Radium Global Sdn Bhd, has proposed to acquire two pieces of land in Kuala Lumpur from several vendors for RM71.79 million.
The vendors were from Lau Leok Wooi, Low Yoke Keong, Low Boon Wah @ Lawrence Low, Low Lay Ching @ Nancy Low, Catherine Low Lay Ming and Low Lay Teng.
"The proposed acquisition represents an opportunity for Radium Development and its subsidiaries to accumulate strategic land for property development purposes,” the company said in a filing with Bursa Malaysia today.
It said the lands are situated in a strategic location where the necessary infrastructures are readily available.
It added that the board of directors believed that the proposed acquisition would contribute positively to the future earnings of the company. - Bernama a