The consideration was determined on a willing-buyer and willing-seller basis. The site is intended for development into a residential project for sale.
Wing Tai Holdings’ wholly-owned subsidiary, Wing Kiara Sdn. Bhd., has agreed to acquire a freehold 11,092 sq m land parcel at Mont Kiara, Mukim Batu, Tempat Sungai Teba, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, for RM45 million ($14.7 million).
The acquisition was completed on March 16 following the signing of a sale and purchase agreement (SPA) between Wing Kiara and Puncak Melati Sdn. Bhd.
