Source from (The Sun Daily): http://www.thesundaily.my/news/441563
Published: July 20, 2012
sunbiz@thesundaily.com
PETALING JAYA (July 19, 2012): Zecon Bhd is selling a
retail mall in Kuching, Sarawak, which will be developed by its unit
Zecon Land Sdn Bhd, to Lembaga Tabung Haji (LTH) for RM155.9 million.
Zecon, via units Zecon Land and Zecon Petra Jaya Sdn Bhd, had today entered into an agreement with LTH for the proposed sale.
At the request of LTH, Zecon Land will construct a retail mall with a
gross floor area of 774,859 sq ft on a 5ha piece of land which forms
part of an integrated mixed development called Vista Tunku Project.
In a filing with Bursa Malaysia today, Zecon said the development of
the retail mall will be funded via internal funds and/or borrowings and
is anticipated to be completed within 24 months.
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