HHRG unit to acquire Kulim Property

PETALING JAYA: HHRG Bhd’s wholly owned subsidiary, HH Properties Kulim Sdn Bhd, has entered into an agreement with four individual vendors to purchase their entire equity stake in Kulim Property Sdn Bhd for a consideration of RM4.5mil.

The acquisition includes all 1.17 million ordinary shares in Kulim Property, which has 55 subdivided land plots estimated to be worth RM4.8mil in Kulim, Kedah.

HHRG said the deal will enable the group to increase its land bank in line with its diversification into the property development business.