News by Justin Lim

The group is now eyeing a slice of the record RM11.91 billion budget the Sarawak state government is planning to spend, the bulk or some RM9.07 billion of it for development.

The project, also known as the Duta-Ulu Kelang Expressway (DUKE) Phase-3 project, is currently 50% complete, and the group is committed to complete the project as scheduled.

“These comprise the second phase of commercial shoplots at Tropicana Aman in Kota Kemuning; the fourth landed residential phase at Tropicana Heights, Kajang; and a new commercial phase at Tropicana Metropark, all expected to contribute positively to the group’s earnings for the coming years,” it said in a statement yesterday.

MBSB said its gross loans and financing for 3QFY18 declined 0.6% year-on-year, mainly due to the proposed sale of personal financing, property financing and mortgages in 4QFY17 that amounted to RM1.51 billion.

Of the state's total budget, RM9.073 billion — including a federal fund of RM260 million — will be allocated for development expenditure.

"China Ouhua will proactively follow up with the relevant government authorities of the People's Republic of China to ensure the land title ownership is transferred to Yantai Ouhua.”

Sunway REIT is proposing a first interim income distribution of 2.48 sen per unit, amounting to RM73.038 million for 1QFY19, payable on Dec 4.

“The proposed disposal will enable Tropicana to realize the gains from its investment in TISB, and to conserve cashflow requirement of TISB in order to focus on other project developments.”

In a bourse filing yesterday, it announced an income distribution of 95% of its distributable income for 3QFY18 amounting to RM81 milllion or 2.29 sen per unit, to be paid on Nov 29.

In a filing with Bursa Malaysia, the company said its unit — BMSB has received a letter of award from Melati Ehsan (M) Sdn Bhd (MEMSB) on the appointment of it to be the main contractor for project.