LTKM buys 3-acre land at Jalan Puchong for RM40 mil

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Eggs producer LTKM Berhad is venturing into property development.They announced that they are buying a 1-acre freehold land at Jalan Puchong (off Old Klang Road) for development. The land is near to OUG Parklane and adjoined to a slightly bigger plot, which the company purchased in January 2016. Collectively, they own 2.94-acre of land ready for development.

Transaction 1:
Title no: GM1603
Lot no: Lot 1401, Mukim Petaling, District of Kuala Lumpur, Kuala Lumpur (Jalan Puchong)
Land area: 4,047 sq.metres (1 acre)
Tenure: Freehold
Category of land use: Agricultural
Zoning: n.a
Transacted price: RM12,563,300 (RM288 psf)
Date of transaction: 4 July 2016
Vendor: 11 individuals
Purchaser: LTK Melaka Sdn Bhd
Note: Lot 1401 was valued by LaurelCap Sdn Bhd on 21 Jan 2016 for RM12,630,000 (RM290 psf).

Transaction 2:
Title no: GM62
Lot no: Lot 1402, Mukim Petaling, District of Kuala Lumpur, Kuala Lumpur (Jalan Puchong)
Land area: 7,841 sq.metres (1.94 acre)
Tenure: Freehold
Category of land use: Not stated
Zoning: n.a
Transacted price: RM27,436,700 (RM325 psf)
Date of transaction: 21 Jan 2016
Vendor: CF Import Auto Sdn Bhd, Syarikat Kwong Nam Hing Sdn Bhd & 2 individuals.
Purchaser: LTK Melaka Sdn Bhd
Note: Lot 1402 was valued by LaurelCap Sdn Bhd on 5 Jan 2016 for RM27,440,000 (RM325 psf).