Asian Pac Reveals Sabah Project Details
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In comparison with the original plan to build a block of 10-storey office tower, one basement of commercial lot and 97 carpark space as set out in the joint venture agreement between APHB's unit, Harmoni Bumiria Sdn Bhd, and the landowner, Koperasi Serbaguna Sanya Bhd (Kosan), Asian Pac Holdings Bhd (APHB) has disclosed that its joint-venture project to redevelop a 1.85-acre land in Likas, Kota Kinabalu, Sabah, is expected to comprise about seven retail lots, 1,000 car park bays and 539 service suites.
In its stock filings with Bursa Malaysia, the property developer stated that Kosan's total entitlement of office space to the project would also be revised under the proposed redevelopment plan.
APHB acquired a 90% stake in Harmoni for a total cash consideration of RM3.15mil from Ikatan Khusus Sdn Bhd, which would continue to hold a 10% stake in Harmoni.