Eupe acquires land in KL for RM69mil

PETALING JAYA: Eupe Corp Bhd is acquiring a parcel of freehold land measuring 2.46 acres in Kuala Lumpur from MCL Land (Pantai View) Sdn Bhd for RM69.18mil.

In a filing with Bursa Malaysia, Eupe Corp said the proposed acquisition is in line with the group’s business expansion objective and growth strategy in accumulating new suitable land.

This, the company said, is to be included in the group’s landbank and to scale up its property development portfolio to generate additional streams of income moving forward.

Eupe Corp said the proposed acquisition will be satisfied in cash, which will be funded by a combination of internally generated funds and bank borrowings.