News by M

Scientex said its property business registered higher profit, consistent with higher sales, though its manufacturing business profit slipped, mainly due to lower product margins from both industrial and consumer packaging segments.

The share consolidation plan, said Mulpha, will be done on the basis of 10 existing shares for one consolidated share, which will see its share capital reduced to 319.62 million from 3.196 billion currently.

The key reason for venturing beyond Singapore was largely due to “the property cooling measures” rolled out in phases over the past seven years, according to Mohamed Ismail Gafoor, CEO of PropNex Realty.

Yong Tai announced that it has entered into a Conditional Sales and Purchase Agreement (SPA) with Mustazah Osman and Laila Endut (the vendors) of Laila Development Sdn Bhd for the acquisition of their entire block of issued shares in Laila Development for RM35 million cash. Laila Development is the registered and beneficial owner of the two vacant leasehold plots of six acres each.

IOI Properties said it received valid applications for 1.51 billion rights shares over the total amount of 1.1 billion rights shares available for subscription.

After making payments for their Forest City properties, these mainland investors are now faced with the grim prospect that they cannot send money out of China to continue making payments or even get their money back, the South China Morning Post (SCMP) reported.   

The launch will mark the start of the e-Lelong Operations Centre that will oversee all public auctions of immoveable properties held throughout Peninsular Malaysia, in stages.

At Parliament today, Fadillah said the government has discussed with various stakeholders of the construction industry, and has committed to greater adoption of IBS going forward.

A report by real estate publication The Real Deal said that Miami Dade’s County Commission’s transportation committee had “unanimously agreed” to lease the public asset to the conglomerate for 90 years.

Gabungan AQRS Bhd rose 2.27% this morning after the company announced its plan to dispose of a 5.15-acre piece of land in Petaling, Selangor for RM34.7 million.