UOL says the deal will bring it closer to its aim of achieving statutory control in UIC in the future.

According to a Bloomberg report, subsidised junkets that once flew in prospective buyers to development sites in Johor have dwindled, while some buyers who have put down money for deposits are mulling cancelling their purchases.

Shares of S P Setia Bhd fell 6.91% in morning trade following its announcement to make a cash call to fund its acquisition of I&P Group Sdn Bhd, and mixed views from analysts on the plan.

The proposed Bandar Malaysia real estate project is on a 194ha (486 acre/21.17 million sq ft) tract within the old airport site in Sungai Besi here.

Malaysian Resources Corp Bhd (MRCB) said its major shareholders Employees Provident Fund (EPF) and Gapurna Sdn Bhd (GSB) will avoid triggering any mandatory general offer (MGO) while they apply for excess rights shares and warrants under the group’s cash call exercise.

For the acquisition, S P Setia is proposing a cash call plus private placement to raise the required funding.

Sold for: RM690,000 (RM653 psf); Concluded by: Teoh Peng Peng (PV1436) of Hartamas Real Estate Sdn Bhd (018-206 7122); When: March 2017

The Edge Property has garnered US$4 million (RM17.16 million) funding from various prominent investors.

Country Garden Pacificview announced on June 20 that the US$280 million (S$389.3 million or RM1.2 billion) Stage 2 development of Forest City in Iskandar Malaysia, Johor, is on track.

Jaks Resources Bhd, whose profitability was dragged down by its loss-making property division in the financial year ended Dec 31, 2016 (FY16) and first quarter ended March 31, 2017 (1QFY17), said it would take some time for the division to start bearing profits.