Bina Darulaman unit gets loan for land deal

PETALING JAYA: Kedah-based Bina Darulaman Bhd’s (BDB) wholly owned unit, Aman Lagenda Sdn Bhd, has received a RM25.6 million loan from Affin Islamic Bank Bhd to finance the purchase of two parcels of industrial land in Mukim Kedawang, Kedah, valued at RM32 million.
The property developer told Bursa Malaysia that the Murabahah term financing will cover up to 80% of the purchase price.
BDB expects the land purchase to add value for the group property development activities and contribute positively to the group’s earnings in the short to medium-term.
“The directors of BDB are of the opinion that the acceptance of the facility is in the normal course of the group’s business activities and it benefits the group’s property business,” it added.