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.

INDIA: The occupancy rate of the office market in India is projected to “considerably increase” in 2015 and 2016 compared with 2012 and 2013, despite challenges ahead, according to Jones Lang LaSalle India’s (JLL India) recent India Office Real Estate Market Review 2014.

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.

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.

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. 

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.