Harn Len, Jotech sign deal to buy land for RM18m
Published on: Wednesday, July 13, 2016
Kuala Lumpur: Harn Len Corp Bhd has signed a sale and purchase agreement (SPA) with Jotech Metal Fabrication Industries Sdn Bhd to acquire three pieces of land together with a factory building for RM18 million. In a filing to Bursa Malaysia Tuesday, Harn Lee said, the group intended to invest in the properties for its appreciation in value. "The properties are located in the vicinity of factories occupied by reputable firms such as Meiban, Toyoplus and London Biscuits. Hence, the appreciation in value is foreseen.
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"The properties purchased are rented back to the vendors for five years. The rate of rentals are reasonable at eight per cent," it said.Stay up-to-date by following Daily Express’s Telegram channel.
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