Classic Scenic said the existing manufacturing plant in Rawang is already running at optimum capacity rate, about 80%.
The land has a market value of US$56.1 million.
Two Axteria units are developing a 16-storey development building with 241 hotel rooms and a 44-storey development building with 306 serviced suites, both of which are being proposed to be managed under the Far East Hospitality brands
In an announcement to the Singapore Exchange on Tuesday (Oct 12), Fortress Minerals said the new agreement, which was signed on Tuesday, would provide recurrent income and cash flows to Fortress Minerals and strengthen its financial position.
Interest Rate Waiver: Imperative that short-term relief measures do not incur long-term damage to economy — BNM
“If banks become more reluctant to lend to this segment of borrowers due to perceived high risks, this would be a concern.”
For all five JV projects, TAFI’s wholly-owned subsidiary Gerak Mahir Sdn Bhd will be bearing the cost of the development, while the JV partners will be providing the project land.
The REIT’s assets include Menara IGB, IGB Annexe, Centrepoint South, Centrepoint North, Boulevard Properties, the Gardens South Tower, Gardens North Tower and Southpoint Properties at Mid Valley City.
Notably, the exemption of interest payments will only involve the recipients of the moratorium from the bottom 50% group in terms of income classification for a period of three months from October to December 2021. Undoubtedly, this will impact the banks' interest income trends in the fourth quarter of 2021 (4Q21).