BCB buys Johor land for RM84mil

PETALING JAYA: BCB Bhd is acquiring 59 parcels of freehold land in Batu Pahat, Johor from Lian Hup Seng Sdn Bhd for RM83.71mil.

In a filing with Bursa Malaysia, BCB said the land will also include four single-storey semi-detached buildings, one single-storey building used for storing fertilisers, a single-storey building used for storing chemicals and tools and a single-storey dilapidated building.

BCB said the acquisition will add approximately 286 acres to its existing land bank.

“This strategic move will substantially increase the land bank of BCB Group and provide sustainable earnings over the medium to long term, given the favourable outlook of the property market in Johor,” it said.