Selangor Dredging Bhd to buy land in Malaysia, Singapore

KUALA LUMPUR: Selangor Dredging Bhd (SDB) is looking to replenish its landbank in Malaysia and Singapore as land prices have become more reasonable, said its managing director Teh Lip Kim.
"Land prices have become more reasonable. Before this, land prices increased to a level that was not feasible to be developed and we held off on land acquisitions for the last one year. We had refrained from buying land but now we are starting to look again," she told reporters at its AGM today.
She said in Malaysia, it is looking for land mainly in the Klang Valley. The group currently has 14 acres in Melawati and 18 acres in Bukit Serdang, both of which are at the initial stages of planning.
In Singapore, the group expects to handover its final project in April next year and is scouting for more land.
Chairman Eddy Chieng Ing Huong said it is in a good position to replenish its landbank with RM200 million cash and close to RM1.5 billion asset base.
The group's unbilled sales currently stands at RM554 million.