Magna Prima in RM1.2bil property tie-up

PETALING JAYA: Magna Prima Bhd’s wholly owned subsidiary Twinicon (M) Sdn Bhd has inked a conditional development agreement with Golden Rainbow View Sdn Bhd.

They plan to undertake a mixed development on five parcels of adjoining freehold land in Kuala Lumpur with a gross development value of RM1.2bil.

The project would comprise commercial lots, “small office, home office” units, serviced apartments, office suites and a hotel, Magna said in a filing with Bursa Malaysia yesterday. — Bernama