KUALA LUMPUR: HIL Industries Bhd
’s indirect wholly-owned subsidiary, Amverton Prop Sdn Bhd, has entered into a conditional sale and purchase agreement with A&M Modern Homes Sdn Bhd (AMMH) to acquire a three-acre parcel of land in Kuala Lumpur for RM47mil cash.
In a filing with Bursa Malaysia yesterday, HIL Industries noted the proposed related-party acquisition would enable it to replenish its land bank and property development projects in view of the upcoming completion of its ongoing projects.
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