CapitaLand acquires 50% stake in Malaysian real estate company

For a cash consideration of $9.6m.

CapitaLand Limited, through its subsidiary Highrise Jubilee Sdn Bhd, acquired a 50% stake in Asiana Agresif Sdn Bhd (AASB).

According to a media release, CapitaLand acquired AASB from Juta Asia Corporation Sdn Bhd (JACSB) for a cash consideration of $9.6m. The remaining 50% stake in AASB continues to be held by JACSB.

AASB is the owner of parcels of land located in Kuchai Lama, Kuala Lumpur, Malaysia (“Land”). CapitaLand and JACSB intend to, through AASB, jointly develop the Land into one block of condominium and low rise villas.

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