Wednesday, May 26, 2010

Background and Shareholders

Denia Development Sdn Bhd (448200-K) (DD) (formerly known as Infra Expert Development Sdn Bhd) was incorporated on the September 26, 1977. Its current authorized and paid-up capital is RM 5,000,000.00. The principal activity of this company is property development.

DD had on February 22, 1999 entered into a Development Sales & Purchase Agreement with Prolink Development Sdn Bhd to develop 694.90 acres of land located in Bandar Nusajaya, Gelang Patah, Johor, into 8,625 or such number of units as approved by the State Authorities of low cost housing.

In addition to the low cost housing, the project entails the development of commercial units to serve the new township. The whole development is expected to be completed by year 2013.

On 28th December 2006, Seloga Holding Berhad has announced acquisition of 100% shareholdings in DD, and received the approval of Foreign Investment Committee (proposed acquisition is deemed to have been completed on 31st January 2007).

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