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Dijaya to launch RM1.6b projects

PETALING JAYA (Mar 8): Dijaya Corp Bhd, which is growing its size with the injection of new assets, aims to launch some RM1.6 billion worth of projects this year.

UOB Kay Hian said in a note on Wednesday a 10% to 15% earnings growth at Dijaya over the next two years is "achievable" given the healthy unbilled sales of close to RM600 million.

Hua Yang plans pedestrian mall at BUSI

SERI ISKANDAR (Mar 7): Bursa Malaysia main board-listed Hua Yang Bhd has unveiled plans for a pedestrian mall at the 838 acre resort style township Bandar Universiti Seri Iskandar (BUSI) in Perak.

PPB to expand cinema and property divisions

KUALA LUMPUR (Mar 7): Billionaire Tan Sri Robert Kuok's PPB Group Bhd has earmarked close to RM250 million to grow its property and cinema-related businesses, in a longer-term bid to cut earnings reliance on its 18.3% associate and largest earnings contributor Wilmar International Ltd.

Hock Seng Lee acquires land for Samariang project

KUALA LUMPUR (Mar 7): Hock Seng Lee Bhd (HSL) has entered into a sale and purchase agreement with Projek Bandar Samariang Bhd for the acquisition of a 275.5-acre (110.2ha) piece of leasehold land near Kuching, Sarawak for RM25.55 million cash.

Trinity Group enters JV for Seri Kembangan mixed-development

KUALA LUMPUR (Mar 6): Trinity Group Sdn Bhd has entered into a joint venture agreement with Team Builder Ventures Sdn Bhd to build a mixed-development on a 3.71-acre leasehold parcel in Seri Kembangan.

Team Builder Ventures managing director Tham Sun Weng and Trinity managing director Datuk Neoh Soo Keat inked the agreement today, Trinity announced in a statement.

MRT Corp plans next two lines

KUALA LUMPUR (Mar 6): With work on the Mass Rapid Transit System's (MRT) first line getting into gear, MRT Corp Sdn Bhd is beginning to draw up plans for the next two lines. These will form the bulk of the most costly infrastructure project the country has ever embarked on.

'Reject takeover offer for S P Setia shares'

KUALA LUMPUR (Mar 6): The independent adviser for the takeover of S P Setia Bhd by Permodalan Nasional Bhd (PNB) has recommended shareholders reject the offer of RM3.95 a piece for the shares PNB does not already own in the company. However, it advised warrant holders to accept the warrant offer of 96 sen each.

Ivory Properties to launch RM1.4b worth of projects

KUALA LUMPUR (Mar 6): Penang-based developer Ivory Properties Group Bhd plans to launch projects worth RM1.4 billion in gross development value (GDV) this year, the company said in a statement after its EGM on Monday.

These projects are The Latitude in Mount Erskine, Penang Times Square phases three and four, City Mall and City Residence in Tanjung Tokong.

Benalec gets boost from Melaka land sale

PETALING JAYA (Mar 6): Integrated marine engineering outfit Benalec Holdings Bhd is slated to make a net gain of RM8 million from the sale of two plots of land in Melaka to Asal Harta Sdn Bhd for RM18 million, or RM45 per sq ft (psf).