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Damansara Realty enters JV to provide technical healthcare services in PNG

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.

Gadang’s 1HFY15 earnings rise 17% on better project margins

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.

MCT to raise RM300m from Bursa listing

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.

Majupadu previews Newpark in Kluang

KLUANG: Majupadu Development Sdn Bhd, a Kluang-based property developer, has announced the development of Newpark, the first eco-friendly real estate development in central Johor.

“Newpark represents an opportunity to upgrade Kluang. Newpark will be the largest master-planned commercial project in Kluang,” said Majupadu founder and managing director Tey Ah Kau in a press release.

Kasuka Group to launch RM80m Seremban Gateway

KUALA LUMPUR: Kasuka Group will launch Seremban’s first street mall — Seremban Gateway — at end-2015. The mall has an estimated development cost of RM80 million.

IOI Prop’s Bandar Puteri Bangi hits 70% sales

BANGI: Phase 1 of IOI Properties Group Bhd’s RM4 billion Bandar Puteri Bangi township has achieved a take-up rate of 70% since its launch last weekend.

The first phase comprises Almyra Residence serviced apartments, The Terresse terraced houses and Kubica Square shop-offices. 

Pavilion REIT’s annual distribution for 2014 rises 8.2% to 7.96 sen per unit

KUALA LUMPUR (Jan 15): Pavilion Real Estate Investment Trust (Pavilion REIT)’s annual distribution per unit for the full year ended Dec 31, 2014, improved by 0.6 sen or 8.2% to 7.96 sen, compared to 7.36 sen in 2013. This translates into a distribution yield of 5.5%, based on the REIT’s closing price of RM1.46 as at the end of last year.

KL Sentral courts foreign embassies

KUALA LUMPUR: Malaysian Resources Corporation Bhd (MRCB) is eyeing foreign embassies as tenants in its flagship Kuala Lumpur Sentral central business district (CBD), said group managing director Tan Sri Mohamad Salem Fateh Din.