PETALING JAYA: Lim Seong Hai Capital Bhd
has received a letter of offer from Perbadanan Aset Keretapi (RAC) for the proposed sale and development of two parcels of land in Selangor with a combined purchase price of RM197.9mil.
In a Bursa Malaysia filing, the developer said the 17.4-acre land parcels are located in Daerah Petaling, Selangor.
The proposed development follows a request for proposal exercise initiated by RAC for the potential development of the land.
LSH Capital said a formal agreement is expected to be signed within 30 days from acceptance of the letter of offer.
Completion of the proposed development remains subject to several approvals to be obtained within six months from the agreement date: including shareholders’ approval at an extraordinary general meeting, approval from the Ministry of Economy, and other relevant authorities where necessary.
