News by M

Yong Tai Bhd’s largest shareholder, Hong Kong-listed Impression Culture Asia Ltd, has pared down its controlling stake in the company to 28.73% after disposing of 25 million shares or a 5.75% stake in off market trades.

OCBC Investment Research is maintaining its “buy” call on CapitaLand Ltd, raising its fair value estimate on the stock from S$3.68 to S$3.93 after recent news broke on the group’s developments in Vietnam and Singapore.

The launch event for the e-Lelong system was initially scheduled for March 29 (yesterday) at the Kuantan Court Complex in Pahang.

The group plans to build an 18-storey service apartment with 88 units of service apartments and 13 units of shop lots on the land.

According to sources quoted by The Edge Financial Daily, the developer is believed to have found a strategic investor to pump in fresh capital to kick-start land reclamation for Phase 2A of the Seri Tanjung Pinang (STP) development — part of the remaining 760-acre STP project.

The latest contract has boosted Econpile’s year-to-date job wins to RM1.14 billion for its financial year and its order backlog to RM1.5 billion.

The Federal Territories Ministry plans to create a package that will benefit developers in terms of reducing cost and be time efficient when constructing affordable houses for the people. 

According to sources, a large local fund has been in talks with E&O on taking up an equity stake in the sea-fronting development project near Penang island. The project, Phase 2A, involves reclaiming 253 acres (102.38ha) of land, which has an estimated gross development value of RM20 billion.

List Sotheby’s International Realty said it is timely and strategic to capitalise on Singapore’s position as a global financial hub and the growing number of affluent individuals in the region.

The launch event was initially scheduled for this afternoon at the Kuantan Court Complex in Pahang.