News by M

In a filing with Bursa Malaysia, the group said TDSSB (formerly known as Renown Dynamic Sdn Bhd) has exercised its right to terminate the sale and purchase agreement (SPA) signed on Dec 23, 2013, as the conditions precedent were not fulfilled in accordance with the SPA's provisions.

Kenanga Investment Bank Bhd said it was "longer-term positive" on Eco World's land buy, as long as the group was able to secure the right partners, and assumes an associate stake in the project.

The group slipped into the red in FY15, posting a net loss of RM20.59 million against a net profit of RM23.29 million in FY2014. Revenue fell 1.55% to RM564.49 million from RM573.24 million in FY2014 reported The Edge Financial Daily today.

In a sector note, analyst Tan Siang Hin said sales growth has slowed down with several developers already toning down their sales target from the beginning of the year.

The objective is to solve the urban transport woes by connecting all forms of urban transport network in a coherent transit-commute grid. Hence, the planned Bus Rapid Transit (BRT) projects are slated to be rolled out expeditiously.

Up until recently, the landscape in Bandar Kinrara was fairly homogenous, consisting primarily of low-cost apartments and flats, but this is changing.

In a filing with Bursa Malaysia, EcoWorld said the extension was pursuant to the expiry of the six-month period — from the letter of award (LoA) — to obtain the planning permission (planning permission period) and its shareholder’s approval (shareholder approval period) at an extraordinary general meeting, pursuant to the proposed Eco Marina Development on Sept 26.

Bandar Kinrara once comprised primarily of low-to-medium cost terrace houses and flats, but newer developments are increasingly upmarket. 

1MDB said potential purchasers were invited to register their interest with Savills (M) Sdn Bhd, which is advising 1MDB on the exercise.

Acknowledging the soft property market, Asian Pac's managing director Datuk Mustapha Buang said the company is looking to launch its condominium project Damansara 8 @ Damansara Damai, a mixed-development project in Kepong and 30 units of shop offices in Phase 2 of Dataran Larkin in Johor, in financial year 2016 ending March 31, 2016 (FY16).