’s recent deal to buy two plots of freehold commercial land near Johor Baru for RM40.5mil cash is seen as positive, says RHB Research.
The two plots are sized 11.12 acres in total (translating to RM83.61 per sq ft) and located within the Bandar Seri Alam township, which is situated 20km from the city centre of Johor Baru.
On Tuesday, Kimlun told Bursa Malaysia that its indirectly owned subsidiary Kii Melodia was buying the land from Seri Alam Properties (the Bandar Seri Alam township developer).
The development details have yet to be finalised, and the proposed deal is expected to be completed by the third quarter of 2021.
Mudajaya Group Bhd managing director and chief executive officer James Wong told StarBiz that the sector would still experience challenges with tightened standard operating procedures emanating from the spread of the virus among foreign workers, which would impact productivity and preventive cost.
PETALING JAYA: The year 2020 has been a total washout year for the construction industry and players in the sector were rather relieved to have sailed through the headwinds into 2021.
A better year is definitely expected with the resumption and roll outs of various public and private sector projects but how significantly positive it would be, depended on the policies and projects that will be announced by the government.