News by M

It said the proposed acquisition enables it to gain full control of the future business direction of Sentul Raya.

In a filing with Bursa Malaysia yesterday, TRC said the termination was not due to default in contract by the company, but rather due to a prerogative right of MMC Gamuda as stipulated in the contract.

Previously, developers would only be returned the 3% deposit after the defects and liability period. 

Remodelling a home takes a lot of time and hard work, especially for homeowners who have never done it before.

Its quarterly revenue jumped 58% year-on-year to RM170.49 million from RM108.15 million.

Benalec said the recognition of a land disposal during the current quarter had lifted its topline.

The mammoth project was placed on the back burner, as the property developer had issues finding and providing strategic access to the site, according to its chief executive Lau Shu Chuan.

The contract entails the construction of a 17-floor building comprising 756 units of serviced apartments and another nine floors of 108 units of serviced apartments built above the podium.

Improvement in revenue was attributed to higher progress of projects under its construction segment, while higher other operating income seen during the quarter had boosted profitability.

In an SGX filing, the company stated that the price was derived based on “as is” market valuation of Aviva Tower of £323 million, without accounting for any potential redevelopment value.