News by JUSTIN LIM

"The proposed debt settlement as well as the listing of and the quotation for the new settlement shares will be implemented after the proposed share consolidation and proposed bonus issue of warrants," said the property developer in a filing with Bursa Malaysia.

In a bourse filing, ES Ceramic said the acquisition will be satisfied via a combination of RM65 million cash and the remaining RM18 million will be paid in the form of new ES Ceramic shares, at an issue price of 32 sen per share.

This represented 66.2% of the total 300,397 property transactions recorded in 2021 and 53.1% of the total property value transacted of RM144.87 billion, based on data released by the National Property Information Centre (NAPIC), which operates under the Finance Ministry’s Valuation and Property Services Department (JPPH).

The year 2021 saw 300,497 property transactions worth RM144.87 billion recorded, up 1.5% and 21.7% y-o-y respectively, NAPIC said in a statement in conjunction with the release of its Property Market Report 2021.

Under the JV, Europlus is entitled to get RM62.11 million in return for granting JMSB the exclusive right to build homes on the plots — comprising 411 units of double-storey terrace houses on one of the plots (Land 1 measuring 11.3ha), and 710 units of double-storey terrace houses on the other plot (Land 2, measuring 20ha).

According to the Bond and Sukuk Information Exchange (BIX) website, the IMTN will pay a semi-annual coupon rate of 3.48%, with the first coupon payment date targeted for Sept 29, 2022, while the last coupon payment date will be March 29, 2027.

“The Board of Directors of Malton wishes to announce that the validity period of the MoU, which was in force for a period of 12 months, has expired on March 25, 2022,” said Malton in a bourse filing.

The two parties inked a Memorandum of Understanding for this purpose on Friday, under which they will jointly formulate a comprehensive sustainable plan to develop and transform part of Gaya, Sapi and Bohey Dulang Islands into a prime destination for eco-tourism.

In a filing with the bourse, the manufacturer of high precision stamped and turned metal parts said its net profit fell to RM243,000 from RM2.01 million a year before.

Respondents in the survey expect construction costs to surge an average of 19% in 2022 due to rise in prices of building materials, wages and financing costs.