Gromutual Bhd's unit, Rainbow Entity Sdn Bhd, has acquired two pieces land in Johor Bahru for RM44 million from Ladang SPK Sdn Bhd.
In a filing to Bursa Malaysia Wednesday, Gromutual said the acquisition, which would be financed from internally-generated funds and and bank borrowings, was expected to be completed in three months.
It said the development on the land was expected to contribute to the medium-to long-term future earnings of the group. - Bernama
