Thursday 25 Apr 2024
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KUALA LUMPUR: Nexgram Holdings Bhd’s wholly-owned subsidiary Nexgram Land Sdn Bhd has obtained the development order from the Sepang Municipal Council, with respect to the RM1.15 billion Angkasa Icon City project in Cyberjaya, Selangor, according to Nexgram’s filing with Bursa Malaysia yesterday.

Nexgram’s subsidiaries Nexgram Land and Nextnation Datacity Sdn Bhd had entered into an off-take cum sale and purchase agreement with MyAngkasa Bina Sdn Bhd in December last year, which saw Nexgram Land undertaking the Angkasa Icon City mixed commercial development on a 2.39ha freehold tract owned by Nextnation in Cyberjaya.

The project will be developed by Nextnation and be sold by Nexgram Land and Nextnation to MyAngkasa Bina, a unit of Angkatan Koperasi Kebangsaan Malaysia Bhd, for RM1.15 billion.

Nexgram (fundamental: 1.95; valuation: 1.1) shares closed up 0.5 sen or 5.26% at 10 sen yesterday, with a market capitalisation of RM188.2 million.

 

This article first appeared in The Edge Financial Daily, on July 21, 2015.

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