KUALA LUMPUR: Hap Seng Consolidated Bhd’s unit, Hap Seng Properties Development Sdn Bhd, has entered into two separate sale and purchase agreements to dispose of two parcels of leasehold land in Sabah for RM278 million.

“The proposed disposals are in the ordinary course of business of the vendor which is a company principally involved in property development.

KUALA LUMPUR: KPJ Healthcare Bhd expects to spend RM1 billion to construct nine new hospitals over the next five years, said its president and managing director Amiruddin Abdul Satar.

KUALA LUMPUR: Kimlun Corp Bhd is projecting an internal net profit growth of 10% to 15% for the financial year ending Dec 31, 2014 (FY14), driven by its record outstanding construction/manufacturing order book of RM2.09 billion as at March 31, 2014.

KUALA LUMPUR: S P Setia Bhd said the privatisation agreement between its 50%-owned unit Setia Federal Hill Sdn Bhd (formerly Sentosa Jitra Sdn Bhd), the government and Syarikat Tanah dan Harta Sdn Bhd has become unconditional.

KUALA LUMPUR: PJ Development Holdings Bhd (PJD), through its 75%-owned subsidiary Yarra Park City Pte Ltd, has entered into a put and call option deed with an Australian developer for the purchase of a piece of freehold land measuring 2.026ha in Southbank, Melbourne for A$145 million (RM439.8 million) cash.

The proposed transaction works out to RM2,013 per sq ft.

HONG KONG: Citigroup Inc paid a record HK$5.4 billion (US$697 million or RM2.25 billion) to a unit of Wheelock & Co for a Hong Kong office tower that will bring most of its 5,000 employees in the city under one roof.

KUALA LUMPUR: Businessman Tan Sri Clement Hii, who in February emerged as a major shareholder of Golsta Synergy Bhd with a 27.27% stake, has plans for the company to enter the property market in the near future.

Today, Hii owns 52.21% of Golsta, whose principal business is in heavy machine manufacturing.

KUALA LUMPUR: Mitrajaya Holdings Bhd said it remains on track to meet its RM1.5 billion order book target for its construction division in its financial year ending Dec 31, 2014 (FY14).

Its outstanding order book currently stands at RM1.1 billion.

KUALA LUMPUR: GW Plastics Holdings Bhd, which is in the midst of a reverse takeover (RTO) by property developer MCT Consortium Bhd (MCTCB) for RM1.21 billion, said it does not expect the property market slowdown to have a material impact on its earnings post-reverse merger.

KUALA LUMPUR: Details of the 50-acre (20.23ha) development in Bukit Jalil, dubbed “Pavilion 2”, to be co-developed by Ho Hup Construction Co Bhd and Malton Bhd will be out by the third quarter of this year, according to Ho Hup’s management.