GLM REIT Management Sdn Bhd, the manager of Tower Real Estate Investment Trust (Tower REIT), announced a change in its shareholding following GuocoLand (Malaysia) Bhd’s divestment of a stake in the company.
GDB said its wholly owned subsidiary, Grand Dynamic Builders Sdn Bhd (GDBSB), was informed that a creditor of DCSB, Sharifuddin Abdul Wahab, had filed the application on June 16 under several provisions of the Companies Act 2016.
The total transactions were valued at an estimated RM10.61 million.
The property developer said both parties agreed to court-ordered terms regulating the convening and conduct of the EGM on July 10, after hearing competing injunction applications.
The contract covers two phases of building works under a single award, comprising in total two 46-storey serviced apartment blocks of 540 units each.
Ricloud is described as an AI cloud infrastructure provider serving AI industry participants, hyperscalers, and government entities.
The proposed land disposals were completed last Friday (June 19) after Neuwhite Sdn Bhd paid the balance 90% of the disposal considerations to Ultimate Ivory Sdn Bhd.
The new businesses are expected, once operational, to contribute 25% or more of the group’s net profit and/or result in a diversion of at least 25% of net assets.
The claim is brought by Raymond Joseph William King on his own behalf and on behalf of other current and former landowners in the Mulgoa Rise area.
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