KUALA LUMPUR (July 26): Property developer Gromutual Bhd has bought three pieces of land in Melaka for RM7.26 million.

The purpose of the acquisition and the vendors were not disclosed in the group's announcement to Bursa Malaysia.

Gromutual said its wholly-owned subsidiary Sakae Corporation Sdn Bhd bought two pieces of land measuring 10.14 acres and 9.69 acres for RM2.58 million and RM2.47 million respectively.

Another wholly-owned unit, Wisma Development Sdn Bhd, meanwhile bought the third plot measuring 3.5 ha for RM2.2 million.

None of Gromutual's directors, major shareholders or persons connected with them has any interest, direct or indirect, in the acquisitions, said the company.

Shares in Gromutual closed half a sen or 1.15% higher at 44 sen yesterday for a market capitalisation of RM165.27 million. — theedgemarkets.com

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