Iskandar Waterfront City Bhd”s Unit Acquires Land In Johor Bahru

Iskandar Waterfront City Bhd''s  Unit Acquires Land In Johor Bahru

KUALA LUMPUR, Nov 30  — Iskandar Waterfront City Bhd’s unit, Tebrau Bay Sdn Bhd, has acquired two parcels of land in Johor Baharu from Pentadbir Tanah Johor Bahru for RM170.10 million.

In a filing to Bursa Malaysia yesterday, Iskandar Waterfront said the acquisition was conducted on behalf of the state government, a major shareholder of the group, via Kumpulan Prasarana Rakyat Johor.

“The acquisition will result in a profit of RM69.3 million and accordingly increase its earnings per share.

“It will also improve the net tangible asset per share of Iskandar Waterfront by 10.35 sen,” it said.