Naluri Purchase To Position Atlan As Developer

ATLAN Holding Bhd’s acquisition of Naluri Corp Bhd will help position the group as a property developer and a duty free shop operator. Naluri will be delisted and privatized after the acquisition. The completion of the take over will place some RM700 million worth of properties, which include vacant land, commercial properties and apartments, under Atlan. In Penang, Nalurim via unit Blossom Time Sdn Bhd, is currently involved in a RM400mil landed and high rise property development on a 65-acre site in Batu Ferringhi.

(2-02-2008 The Star)