Ewein buys Penang land for RM40mil

PETALING JAYA: Ewein Bhd’s wholly-owned subsidiary, SkyDorm Sdn Bhd, has entered into a sale and purchase agreement with Tan Hong Soon and Tan Kean Hock for the purchase of a piece of land in Seberang Perai Tengah, Penang measuring 3.93ha for RM39.8mil.

In a filing with Bursa Malaysia, Ewein noted the land is a vacant, freehold plot of land that is presently free from encumbrances.

Ewein said the purchase will be funded by internally generated funds and bank borrowings. It is to be completed within three months from yesterday.

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