BCB subsidiary signs RM36.17 million deal for Johor golf course land
BCB puts the preliminary gross development value at RM500 million, subject to further planning and assessment.
Banang Central Development Sdn Bhd, a wholly owned subsidiary of BCB Bhd, has signed an agreement to buy a freehold site in Batu Pahat, Johor, from Indah Corporation Bhd for RM36.17 million.
In its November 13 filing with Bursa Malaysia, BCB said the land covers 21 hectares (52 acres) and is being used as a golf course. The company said it would pay for the acquisition using internally generated funds and bank financing.
BCB intends to examine development opportunities after the purchase is completed, with any future property development subject to approval by the relevant authorities. Its preliminary estimate puts the proposed development’s gross development value at RM500 million, pending additional planning and assessment.
The group said the purchase supports its long-term plan to increase its land holdings and maintain a pipeline of property projects. It also said the site’s location and development potential would enable it to extend its property activities in Johor and reinforce its position in the local market.
