HLH Group acquires land in Cambodia for $2.8m

It has a 30% stake in two plots of land.

HLH Group has acquired a 30% interest in two plots of lands in Cambodia.

The plots, measuring 4,295 square meters and 5,427 square meters respectively, are located in Preah Sihanouk Province.

The total consideration for the deal is US$2.82m.

The purchase price for the lands was negotiated on a willing-buyer-willing seller basis, taking into account, amongst others, the location and development prospects of the property.

The transaction is part of the group’s push to look for development opportunities around the region. 

The deal will be funded by internal funds and bank borrowings, and is not expected to have any material impact on the Group’s net tangible assets or earnings per share for the current financial year.