HLFG Unit To Acquire Land, Building For RM220 Million - See more at: http://www.iproperty.com.my/news/10016/hlfg-unit-to-acquire-land-building-for-rm220-million#sthash.rNCNk3Hj.dpuf
Date：2015/04/08
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KUALA LUMPUR, April 6 (Bernama) -- Hong Leong Financial Group Bhd's (HLFG) unit, Hong Leong Assurance Bhd is acquiring a parcel of land together with a commercial office building known as Menara Raja Laut from Hong Leong Bank Bhd for RM220 million.
In a filing to Bursa Malaysia, HLFG said the acquisition would be funded using Hong Leong Assurance's shareholders' fund.
On rationale for the acquisition, it said the building would enable Hong Leong Assurance to enhance its investment income in the long-run with capital appreciation potential.
"The proposed acquisition is expected to be completed by the first half of this year," it added