LBI Capital unit buys land in Sabah

KUALA LUMPUR: LBI Capital Bhd says its unit Goldmount Resources Sdn Bhd has bought four parcels of land measuring 1.44ha in Sabah from Liew Leong Lok, Liew Leong Chin and Liew Leong Ting for RM6.7 million to develop a high-end condominium project. The 999-year leasehold land, expiring in 2909, is located at Signal Hill, on fringe of Kota Kinabalu city centre. The planned development is expected to boost LBI's future earnings, LBI said in a filing to Bursa Malaysia yesterday.