KUALA LUMPUR (Dec 8): Mitrajaya Holdings Bhd (MHB) and its subsidiary are objecting to the government's offer of RM31.5 million for its land in Kota Tinggi, Johor.

Mitrajaya said they will negotiate with the relevant parties “to ensure that a fair compensation is received”.

It said the government had made an offer to pay RM31.5 million for the compulsory acquisition of its land to develop the Pengerang Integrated Petroleum Complex.

The compensation offer for the 24.15sq  metre freehold land was made to Mitrajaya’s wholly-owned subsidiary Kemajuan Sekim Baru Sdn Bhd by the district’s land administrator, the company said in a filing today.

The company said it received a development order in 2000 for a total area of 54.95 sq metres for a mixed residential and commercial development project at Pengerang, with the first phase being completed and fully sold in 2012.

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