ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Nikkei Markets

Singapore's Capital World Unit Buying Malaysia's Kekal Efektif For MYR63 Million

By Singapore Newsroom
Nikkei Markets
SINGAPORE (Nov 23) -- Singapore-listed property company Capital World's wholly owned unit Baiduri Megaria has agreed to buy the whole of Malaysian real estate outfit Kekal Efektif for 63.0 million ringgit ($15.3 million), Capital World said in an exchange filing Thursday.

Kekal holds the joint development right to five plots of 99-year leasehold land with a total area of approximately 207.5 acres owned by Yayasan Pelajaran Johor - an education foundation established by the Johor State Government. Development will take eight to 10 years and will be a township comprising residential properties, shops and offices.

"The residential development will be timely to capture the rising housing demand of the upcoming Pengerang oil and gas hub," Capital World Chief Executive Siow Chien Fu said.

Capital World was formerly known as Terratech Group.
- By Singapore newsroom; sgeditorial@nikkeinewsrise.com;
- Edited By Abhrajit Gangopadhyay
- Send Feedback to feedback@nikkeinewsrise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more