KUALA LUMPUR: Construction firm Melati Ehsan Holdings Bhd acquired four pieces of leasehold land in Klang for RM15.5 million for mixed developments.

It said in a filing to Bursa Malaysia on Nov 11 that its wholly-owned Melati Ehsan Consolidated Sdn Bhd had entered into a sales and purchase agreement with TPPT Sdn Bhd for the acquisition of the land parcels, totalling 27.11 acres, in Pekan Pandamaran, Klang on Nov 11.

“The acquisition represents an opportunity for the group to accumulate strategic landbank at a reasonable price as the Said Lands are situated in an area with positive residential and commercial property development potential at the Southern Klang corridor,” it added.

However, the final development proposal for the tracts of land is yet to be finalised.

The principal activity of TPPT is that of property development to meet social objectives of the “Tabung Pusingan Perumahan Kos Rendah” scheme for the promotion of affordable property ownership. Its major shareholders are Bank Negara Malaysia, CIMB Bank Bhd, Malayan Banking Bhd, Affin Bank Bhd and Public Bank Bhd.
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