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MELAKA (Aug 13): Takaso Resources Bhd (TRB) has acquired a 0.85-acre plot in Taman Melaka Raya, Melaka for RM9 million from Mega Irama Enigma Sdn Bhd. TRB plans to turn the land into a mixed-development with a gross development value of RM134.15 million.
“The land acquisition is part of TRB’s strategy to continuously seek opportunities to expand and diversify our business operations to turn profitable while maintaining sustainable growth as well as to balance our income stream from our various segments,” said TRB executive director Ong Kah Hoe in a press release today.
“We believe that the venture will also lessen our dependence on our traditional businesses,” said Ong.
TRB has businesses in rubber and baby products. The group recently ventured into construction.
The land was originally planned with approvals for a 7-storey budget hotel with 174 rooms.
The change of plans by TRB was because Taman Melaka Raya had seen rapid growth, which translated into high demand for properties in the area.
“According to the market researchers and experts’ comments as seen in the major newspapers, the property outlook in Melaka is encouraging with its booming tourism industry and is in need of more hotels. Besides that, the residential property market has also recorded steady increase in volume and value. Therefore, Takaso is confident that the project will be a fruitful one,” said Ong.
