The group’s wholly-owned subsidiary, Mudajaya Corp Bhd (MCB), commenced adjudication proceedings against CMC Machipex Sdn Bhd in October 2015 for a principal sum of RM175.3 million together with late payment interest and cost.
It is still too early to bet on the Genting Bhd group's gain from Japan's parliament passing a landmark bill legalising casino operations there, as a competitive bidding war is expected to be opened up by the development.
This was despite revenue falling 42.5% to RM83.99 million in 2QFY17 from RM146.05 million in 2QFY16.
Revenue grew 11% to RM1.49 billion in 2QFY17 from RM1.34 billion in 2QFY16.
Under the proposed joint development, Ivory will also jointly develop a 20,330 sq m piece of leasehold land in Kuala Lumpur with Grand Uptown. The land will be given to Grand Uptown under a tri-partite agreement between the company, the government and landowner Syarikat Tanah and Harta Sdn Bhd, as a condition to undertake the construction of sewage treatment plants in return for the land.
Ho Hup said it will be responsible for all piling, building, external and miscellaneous works related to the construction of the immigration quarters under the contract.
There are already various financing schemes from the government to address the challenge of homebuyers in purchasing their first homes...
Other proposals forwarded by property developers to help first-time homebuyers include higher loan-to-value ratios and reinstatement of the developer’s interest bearing scheme.
Analysts said state-controlled UEM Sunrise was also in the spotlight, ahead of the country's Budget 2017 announcement this Oct 21.
Ekovest sells stake for RM1.13 billion, valuing highway operator at RM2.83 billion...
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