Tuesday, July 30, 2013
Casa Holdings: 34.3%-stake JV acquired 25 lots of land with land area of 53.7k sqm in Teluk Jawa, Johor, from Giant Star Sdb Bhd for an aggregate RM115m, based on the historical book value. The land acquired will be developed into a mixed residential and commercial development project, located at the sea front less than 1km from the current Senibong Cove and ~12km away from Woodlands checkpoint. Acquisition is in line with group's strategy to include property development within its portfolio. Casa is currently in the business of distributing home appliances and manufacturing of central air-conditioning units and dryers machines.