PETALING JAYA: Property firm Meta Bright Group Bhd
has proposed to acquire a shoplot unit for RM3.5mil located in Kota Kinabalu, Sabah in a related party transaction between the company's wholly owned subsidiary, FBO Land, and its 70%-owned indirect subsidiary, CCF Development.
The company said in a Bursa Malaysia filing that the unit forms part of Damai Suites, a mixed-use project comprising 254 commercial units, 14 shop lots, 4 kiosks, and 215 carpark bays.
It said the acquisition forms part of the company's asset and property optimisation strategy that can be used for commercial purposes, including potential leasing to third parties, which the board of directors believes would provide long-term strategic value.
