Leader accepts compensation

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 sq m of land in Kapar, Klang, for RM42.56mil cash.

In a filing with Bursa Malaysia, 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. — Bernama