CORRECTION

WITH regard to the article titled “Fajarbaru acquires Australian property developer” published today, we would like to clarify that the group has acquired 49% of Australian property development company Beulah Northcote Land Pty Ltd (BNL) and not 98% as reported.
The group’s wholly owned subsidiary Fajarbaru Land (M) Sdn Bhd acquired 98 ordinary shares in BNL or a 49% interest, for A$98 (RM291.35) cash.
It will also inject capital of A$2.99 million (RM8.89 million) from its own funds to part finance the development which includes land, development and other costs.
The error is regretted.