Farlim Group in talks to acquire more land

PETALING JAYA: Property developer Farlim Group (Malaysia) Bhd, which has a cash hoard of over RM100 million, is currently in discussions with several parties to acquire land in Kuala Lumpur, Selangor, Penang and Perak, to further enhance its property business.
"We are still at the talking stage. We will announce it once we had conclude it (the discussion). We expect to conclude some (of the land acquisition) this year," its chairman and chief executive Tan Sri Datuk Seri Lim Gait Tong told reporters after its AGM today.
Currently, the group has approximately 310.09 acres of landbank in Penang, Selangor, Terengganu, Melaka and Perak, of which 302.57 acres are undeveloped.
Meanwhile, shareholders today approved Farlim's proposal of a first and final single tier dividend of two sen per share for the financial year ended Dec 31, 2015 (FY15).