News by The Edge

An overwhelming 24 bids were submitted for the tender of a residential plot in Toh Tuck Road, the Urban Redevelopment Authority announced at the tender closing yesterday.

EWI said 23,568 applications for 473.66 million shares were received from the Malaysian public, against the 48 million shares available for subscription, which were offered at RM1.20 apiece.

Under the contract, Ikhmas Jaya is tasked to complete the piling and substructure work for two blocks of commercial buildings, which commenced yesterday and is to be completed by April 16 next year.

“The group’s strategy to focus on growing its commercial portfolio is bearing fruit, offering better earnings visibility. Coupled with opportunistic asset recycling of mature assets into its listed REITs (real estate investment trusts)/funds, there is ample upside potential to our earnings estimates,” DBS said.

The campaign will run for a period of three months, which includes clearing of potential Aedes breeding spots, fogging and distribution of informative pamphlets to residents.

Parkwood Developments Sdn Bhd, the property arm of steel pipe maker Amalgamated Industrial Steel Bhd (AISB), is offering early bird packages to buyers of its maiden property project called Avant Industrial Park in Shah Alam, Selangor.

Campaign will feature 20 traditional games at each venue and over 50 games as a whole...

Axiata, which has interests in 10 countries across Asia, will use part of the proceeds from the divestments to cut borrowings, said the news outfit, citing the same sources.

VERITAS Design Group is one of the 2016 recipients of “Cityscape Awards Emerging Markets” award under the category of Leisure & Hospitality award (built) for its Sinkeh Hotel project in George Town, Penang by Dubai’s Cityscape Awards Global.

Putra Perdana Construction Sdn Bhd (PPC), the construction arm of Putrajaya Perdana Bhd which is bidding for RM4.5 billion worth of projects in the next two months, is targeting another record year in its current financial year ending Dec 31, 2016 (FY16), driven by its firm order and tender books.