PETALING JAYA: Farlim Group

(Malaysia) Bhd is proposing to acquire a parcel of land with a two storey semi-detached house erected on it in Shah Alam, Selangor, from Cabaran Resorts Sdn Bhd for RM540,000

In a filing with Bursa Malaysia, Farlim said the property has a land area of 3,379.86 sq ft and a 99-year lease expiring on Aug 15, 2101.

The land is being acquired via Farlim’s wholly-owned subsidiary, Bandar Subang Sdn Bhd (BSSB).

“The acquisition at the fair pricing of RM540,000 will enable BSSB to generate revenue and reasonable gains if BSSB were to resell the property in the future when property market sentiment improves.

“The purchase consideration of RM540,000 will be wholly satisfied from the purchaser’s internal funds.”