Hap Seng Buys KL Metropolis Land for RM869M Sierra Positive Sdn Bhd, a wholly owned subsidiary of Hap Seng Consolidated Bhd, has entered into a conditional sale and purchase agreement to acquire a parcel of commercial land from TTDI KL Metropolis Sdn Bhd (TKLM) for RM868.67 million. TKLM is a wholly owned subsidiary of Naza TTDI Sdn Bhd, which in turn is an 80%-owned subsidiary of Naza Corp Holdings Sdn Bhd. In a filing with Bursa Malaysia today, Hap Seng said the acquisition of the land, known as Met 3 Land, Plot 7A, KL Metropolis, would be funded by internally generated funds and bank borrowings. The 6.2ha of land which is adjacent to Malaysia International Trade and Exhibition Centre (MITEC) would enable the group to strengthen its property development
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