Malton buys land for RM11m

By BUSINESS TIMES

PROPERTY developer Malton Bhd is investing RM11.2 million to buy a 0.76ha land in Taman Maluri, Cheras, to increase its landbank. In a separate statement to Bursa Malaysia, Malton said it has formed a partnership with Gading Wangsa Sdn Bhd to jointly develop a 35-storey condominium in Pulau Tikus, Penang, with an estimated gross development value of RM47.9 million. Funding for both acquisitions will be derived from internally generated funds and via bank borrowings.

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