Land & General Bhd’s related party transaction proposal to take over five property firms from its major shareholder, Malaysia Land Properties Sdn Bhd, for RM344 million cash has caught the Minority Shareholder Watchdog Group’s attention as questions remain over the deal.
Keck Seng (M) Bhd was back in the black for the fourth quarter ended Dec 31, 2016 (4QFY2016) with a net profit of RM75.5 million compared with a net loss of RM53.4 million a year earlier.
Two of the plots are situated in Dengkil, with one in Nilai on which a mixed development named Emville is in construction. The joint-venture partners are to pay RM181.2 million for the plots.
The contract is anticipated to contribute positively to Ireka Corp’s earnings for the financial year ending March 31, 2018.
Currently, the building is leased to Pantai Medical Centre for a term of 15 years, expiring on May 14, 2029, and being occupied and operating as “Pantai Hospital Manjung”.
The Employees Provident Fund board (EPF) has increased its stake in IOI Properties Group Bhd (IOI Prop) and emerged as one of the group's substantial shareholder, with 5.06%.
It looks to maintain stable NPI, sustainable DPU in FY2017, says CEO.
Axis REIT said the distribution of 2.1 sen represents about 99.94% of its 4QFY2016’s realised income available for distribution.
Sime Darby said the Malaysian companies have decided not to pursue the joint venture with PT Hanson International Tbk, and are exercising the right to terminate the Memorandum of Understanding entered into by the parties.
The firms it is buying are A&M Concrete Products Sdn Bhd and Show Piece Sdn Bhd.
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