<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 9): Maxim Global Bhd (KL:MAXIM) said it is acquiring 5.81 acres of freehold land in Subang Jaya for RM95 million or RM375.25 per sq ft.</p></div>

<div class=newsTextDataWrapInner><p>The land is located in front of the South Quay-USJ 1 bus rapid transit station on Jalan Subang 1, within an area designated as a transit-oriented development zone.</p></div>

<div class=newsTextDataWrapInner><p>Maxim is buying the land via its 70%-owned unit Maxim Icon Sdn Bhd from the administrators of the estate of Low Teck Choon, the group said in an exchange filing on Tuesday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The acquisition, it said, will be funded through internally generated funds and bank borrowings.</p></div>

<div class=newsTextDataWrapInner><p>Maxim said the acquisition will supplement its existing land bank at strategic locations with potential for growth. This is in line with its aim to further strengthen its foothold in property development and construction activities and to generate long-term sustainable income, it said.</p></div>

<div class=newsTextDataWrapInner><p>Currently, the group’s landbank consists of 33 acres across the Klang Valley and Labuan.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>As of the end of March, Maxim had total bank borrowings of RM134.47 million, exceeding its cash and bank balances of RM54.25 million.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Maxim closed unchanged at 43.5 sen on Tuesday, giving the group a market capitalisation of RM316.21 million.&nbsp;<br />
&nbsp;</p></div>


Maxim Global Bhd (KL:MAXIM) said it is acquiring 5.81 acres of freehold land in Subang Jaya for RM95 million or RM375.25 per sq ft.

The land is located in front of the South Quay-USJ 1 bus rapid transit station on Jalan Subang 1, within an area designated as a transit-oriented development zone.

Maxim Global buys land in Subang Jaya for RM95 mil 

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