Eco World buys remaining 40% in PPSB

EcoWorld Malaysia said the acquisition arose from the exercise of a put option by TWSB.

PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has acquired the remaining 40% stake in Paragon Pinnacle Sdn Bhd (PPSB) from Employees Provident Fund (EPF) subsidiary Tanjung Wibawa Sdn Bhd (TWSB), for RM184.08mil.

PPSB, which is wholly owned by EcoWorld Malaysia, is undertaking a mixed residential and commercial development known as Eco Grandeur as well as Eco Business Park V, both of which are located in Puncak Alam, Selangor.