TALAM Corp Bhd aims to move away from developing low- and mid-cost housing and instead focus on premium products in the Klang Valley once it shakes off its Practice Note 17 (PN17) status. The property developer has close to 8,000 acres of undeveloped landbank, of which 2,000 acres are in good locations, executive director Chua Kim Lan said at a media briefing. Talam is currently waiting for the Securities Commission (SC) to approve its revised financial restructuring plan so that it can move out of its troubled PN17 status. The new plan addresses all concerns that the SC had raised about an earlier plan.
(15-1-2008 New Straits Times)
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