Kobay Technology Bhd’s wholly-owned unit, Kobay Systems Sdn Bhd, has entered into a joint development agreement with two businessmen to build a condominium with a gross development value of RM80.4 million on a 0.68-hectare land in Mukim Batu.
In a filing to Bursa Malaysia recently, Kobay Technology said the land, situated in Segambut with no specific land use category, has a freehold tenureship.
With an estimated gross development cost of approximately 40.2 million, the expected profit before tax, after deducting proprietor and arranger’s 27 per cent entitlement of RM21.7 million, is approximately RM18.5 million over a period of four years.
Kobay Systems shall be fully responsible for the funding of the project with the initial outlay of RM5.5 million that will be funded by internally generated funds, it said.
Meanwhile, the subsequent development cost should be funded by the project itself as the management was highly optimistic that the project would be able to be self-financing.
Farah Wahida, Editor of PropertyGuru, edited this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
(Source From propertyuguru.com.my)
Link From:
http://www.propertyguru.com.my/property-news/2015/5/94963/kobay-technology-to-launch-a-condominium-with-rm80-4-mil-gdv
For more information and viewing appointment please contact
Eric Ng @ 012-6655230
email: nwkeric526@gmail.com
***Welcome to list your properties, we have ready tenants and buyers for you.***
Refer to our blog also:
http://propertylisting126.blogspot.com
http://themavenpenang.blogspot.com
http://officelisting.blogspot.com
http://landlisting.blogspot.com
No comments:
Post a Comment