The group told Bursa Malaysia in a filing yesterday that this is to enable efficient management and ease of administrative purpose. The purchase price will be funded via internal generated funds.
Income from its car park plunged 83.8% year-on-year (y-o-y) to RM930,000 from RM5.74 million while its marcom revenue and utilities recovery also declined during the MCO, it said in a bourse filing.
"The updated valuation reports to be prepared by the respective independent valuers will take into consideration the effects of Covid-19 on the material properties of TA Group."
The housing project consists of 901 units of double-storey terrace house and 250 units of double-storey townhouses
The plots measure about 2.68ha in total, Protasco said in a stock exchange filing yesterday. Its wholly-owned Sun Rock Development Sdn Bhd had inked a sale and purchase agreement with NSK Property for the sale.
The five other defendants are Boustead's subsidiaries Cebur Megah Development Sdn Bhd and Bakti Wira Development Sdn Bhd, as well as the Federal Land Commissioner, UMW Toyota Motor Sdn Bhd and Suntrack Development Sdn Bhd.
There are two property projects Bina Puri plans to use the proceeds on: a Johor development involving 384 double-storey houses with an estimated gross development value (GDV) of RM229.5 million and one development involving 28 units of four-storey and five-storey shophouses in Kuching, Sarawak with a GDV of RM57 million.
He retired from office in accordance with the group's constitution at the conclusion of the group's annual general meeting yesterday, UEM Sunrise said in a filing.
The total rental amount will be RM58.63 million for the tenure of 12 years.
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