News by M

A businessman looking into procuring land in Teluk Gong for a factory has claimed he was required to pay an inducement in exchange for a speedy land conversion process.

Pasir Pinji assemblyman Howard Lee said there had been numerous complaints about the rubbish strewn across the road between Masjid Zainal Abidin and the Kuan Woh Yuen settlement area.

The two groups yesterday entered into a partnership via their respective subsidiaries — UEM Land Bhd and Leisure Farm Corp Sdn Bhd. Under the deal, they will form a joint venture (JV) company where they are equal partners.

Mah Sing indicated that it had repurchased the balance RM315 million nominal value of its redeemable CBs for RM337 million. The CBs had an original nominal value of RM325 million when they were issued in June 2011.

The Wall Street Journal quoted sources as saying that Sime Darby, the world's largest palm oil producer, had also put on hold earlier plans to raise funds in a bid to reduce its debt, which stands at RM19.7 billion at the end of September according to stock exchange filings.

 TheEdgeProperty.com’s analysis of transactions shows the average price of condominiums in the area was RM193 psf in 1Q2015, up 10.8% y-o-y.

The property developer and construction player said the office suite, which comes with car spaces, is under construction and expected to be completed in January 2018.

Stakeholders in Brickfields, Kuala Lumpur, hope that a new RM26 million Kuala Lumpur City Hall-built car park on Jalan Thambipillay will reduce illegal and haphazard parking in the area.

The project also involves the construction of common facilities, drainage and retention pond, piling works, associated infrastructure and landscape works.

In June 2011, Mah Sing issued RM325 million nominal value of the bonds. In June 2015, it announced that RM10 million nominal value of the bonds were converted to 8.77 million new shares at the conversion price of RM1.14.