Looking For Cheap Landbank

Low Gay Teck, Managing Director of Land & General Berhad, says the worst is over for the company and will use its cash pile of RM140 million to acquire cheap landbank as it develops its remaining 43 acres of land in Sri Damansara, and will reward shareholders with dividends in two to three years time. Its Sri Damansara land on the balance sheet is worth about RM20 psf and the properties will be sold for more than RM400 psf. Also it bought land in Seremban for RM3 psf which he says is a steal.