IBRACO BUYS PJ LAND

PETALING JAYA: Sarawakbased Ibraco Bhd is acquiring 3.9 acres of leasehold land along Baru Pantai Highway in Petaling Jaya for RM37.44 million. In a filing with Bursa Malaysia, Ibraco said it has entered into separate sale and purchase agreements with Milan Sanctuary Sdn Bhd and Jurapat Sdn Bhd for the acquisition of four plots of vacant land. The land is approved for mixed commercial development based on a development order dated Nov 11, 2011.