KUALA LUMPUR (Jan 20): Property developer LBS Bina Group Bhd has tightened its grip in ML Global, after acquiring a total of 561,800 shares in the latter via four open market transactions last week.

PROPERTY DEVELOPER Ong Kah Hoe recently emerged as the largest shareholder in Takaso Resources Bhd, a manufacturer and exporter of condoms and baby care accessories.

Ong owns 35% of property development company OCR Land Holdings Sdn Bhd (previously known as Ong Chong Realty Sdn Bhd), which surfaced as a substantial shareholder with 12.5 million shares or a 6.3% stake on Dec 17.

KUALA LUMPUR (Jan 20): Iris Corporation Bhd is forming a joint-venture (JV) with Technology Park Malaysia Corporation Sdn Bhd (TPM) to jointly develop a residential project on a piece of land in Phase 3 TPM Bukit Jalil.

KUALA LUMPUR (Jan 19): Eastern & Oriental Bhd (E&O) is adding two more properties to its London portfolio, by acquiring vintage office buildings Landmark House and Thames Tower for a total of £57 million (RM308.94 million as quoted by the company).

KUALA LUMPUR (Jan 19): Axis Real Estate Investment Trust’s (Axis REIT) realised net income fell 9.9% year-on-year to RM19.33 million in the fourth quarter ended Dec 31, 2014 (4QFY14), from RM21.45 million in the previous corresponding quarter.

Realised rental revenue slipped 4.5% to RM34.37 million, from RM36.01 million previously.

KUALA LUMPUR (Jan 19): IJM Corp Bhd’s offer to privatise IJM Land Bhd at RM3.55 per share is “fair and reasonable”, says independent adviser Hong Leong Investment Bank (HLIB).

HLIB recommends the shareholders of IJM Land (fundamental: 2.2; valuation: 1.8) to vote in favour of the privatisation exercise, after taking consideration the valuation of the proposal.

KUALA LUMPUR (Jan 16): Healthcare Technical Services Sdn Bhd (HTS), a subsidiary of Damansara Realty Bhd, has entered into a joint venture agreement with Papua New Guinea (PNG) based Pacific Asia (PNG) Ltd (PAL), to provide consultancy services, facilities management and hospital management services in PNG.

KUALA LUMPUR (Jan 16): Builder and property developer Gadang Holdings Bhd saw its net profit risen by a marginal 2.9% to RM8.51 million in the second quarter ended Nov 30, 2014 (2QFY15), despite a 18.74% drop in revenue to RM114.6 million.

KUALA LUMPUR (Jan 16): Steel pipe manufacturer Amalgamated Industrial Steel Bhd (AISB) announced today that it will enter into property development business to diversify its revenue stream.

KUALA LUMPUR (Jan 16): Property developer MCT Consortium Bhd is expected to raise at least RM300 million from its proposed listing.  

Managing director Datuk Seri Tong Seech Wi said MCT, which was finalising a reverse takeover (RTO) of GW Plastics Holdings Bhd, hoped to list on the Main Market of Bursa Malaysia by end of March this year.