Leader Steel unit accepts RM42.56mil compensation for Klang land

KUALA LUMPUR: Leader Steel Holdings Bhd’s (LSH) wholly owned subsidiary Ferronet Asia Sdn Bhd has accepted a notice of award and offer for compensation (Form H) from the Klang Land Office invoking a compulsory acquisition under the Land Acquisition Act 1960 (Act 486) to acquire 28,903 square metres of land in Mukim Kapar, Klang for RM42.56 million cash.

In a filing with Bursa Malaysia today, LSH said the compulsory disposal resulted from the receipt of Form H to take possession of the affected land under Section 18 of Act 486.