Johor to Transfer Property Projects to Damansara, Edge Says

Oct. 22 (Bloomberg) -- Johor Corp., a Malaysian state-owned company, plans to transfer property projects to its 58 percent-owned unit Damansara Realty Bhd., the Edge reported, citing a person it didn’t identify.

The move will provide Damansara Realty with an instant income stream and transform the company into a leading developer in Johor, according to the report, which didn’t elaborate on how the transfer will take place.

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To contact the reporter on this story: Elffie Chew in Kuala Lumpur at echew16@bloomberg.net

To contact the editor responsible for this story: Edward Johnson at ejohnson28@bloomberg.net