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The required approvals and clearance has not been obtained by the buyer, which means the sale would not proceed.

"They have always been saying they wanted to optimise their assets. Whatever assets they have, they want the assets to give the optimum profitability. Any business would want to do that, it is something that should have been done in the first place."  

Matrix Concepts is in a JV to develop the towers as well as Phase 1 and 2 of its developments in the IFD with PT Bangun Kosambi Sukses (BKS) and PT Nikko Sekuritas Indonesia (NSI).

This is compared to a net loss of RM40.94 million in the previous corresponding quarter.

UOBKayHian said Scientex’s offer price aimed at Daibochi warrant holders is substantially lower than the latter’s closing prices — constituting a discount ranging from 91.7% to 97.9% to the historical closing prices of the warrants. It further added that the offer price represents a significant discount of 91.7% to the theoretical value of the offer warrants at 12 sen.

Econpile expects the project to positively contribute to its revenue and earnings for the financial year ending June 30, 2019 (FY19).

The group also reported higher earnings per share of 7.02 sen for 4QFY18 compared with 5.69 sen for 4QFY17.

"TM has always and will continue to explore options to unlock value for the TM Group, including the sale of non-core property assets such as land and buildings."

At a tender briefing yesterday, a TM official told The Edge Financial Daily that potential buyers have the option of buying either the two buildings without tenants, or with different tenancy agreements.

This means that the price of RON95 petrol will now not exceed RM2.08, and any decreases would result in prices being below the newly updated upper price ceiling.