Maxim unit acquires Johor Bahru land for RM167mil

KUALA LUMPUR: Maxim Global Bhd’s 51 per cent-owned subsidiary, Maxim Pelangi Sdn Bhd, has entered into a conditional sale and purchase agreement with Pelangi Sdn Bhd for the proposed acquisition of 2.63 hectares (6.51 acres) in Plentong, Johor Bahru, Johor for RM167.0 million.

In a filing with Bursa Malaysia today, the property developer said it will satisfy the entire proposed acquisition in cash.