Country Heights Holdings Bhd says its subsidiary Country Heights Sdn Bhd (CHSB) is appealing against the High Court's order to pay RM22.49 million worth of tax liabilities to the Inland Revenue Board (IRB).
Sarawak Consolidated Industries Bhd is acquiring Carlton Gardens Sdn Bhd for RM9.5 million, which would see the loss-making property developer penetrate into the government's affordable housing programme.
The sum is derived from the indicative issue price of RM1 per share for 234.15 million offer units in its initial public offering (IPO), of which 220.65 million units are marked for institutional and selected investors — including bumiputera — with the remaining 13.5 million being retail offerings.
The group is acquiring the land from its single largest shareholder, the Armed Forces Fund Board (LTAT), which controls 60.92% of the group, for RM172.78 million, to be satisfied entirely by proceeds from a rights issue it completed on June 23.
TRIplc is involved in construction and property development while Puncak Niaga's list comprises construction, water as well as oil and gas support service businesses.
CIMB Investment Bank Bhd said the Kuala Lumpur-Singapore High Speed Rail (HSR) bilateral agreement was a "milestone" for the project, which would see bids from Malaysian builders.