Citaglobal subsidiary to buy KL land for RM73mil

PETALING JAYA: Citaglobal Bhd’s indirect wholly owned subsidiary, Sinergi Dayang Sdn Bhd, has proposed to acquire a 1.58-acre piece of leasehold land along Jalan Tun Razak in Kuala Lumpur for RM73mil from Bank Islam Malaysia Bhd.

In a filing with Bursa Malaysia, Citaglobal stated that the land has 68 years remaining on its lease, presenting a strategic opportunity for long-term value creation and growth.

It added that the proposed acquisition will be funded with internally generated funds and bank borrowings.