Siab Holdings Bhd said it has accepted a settlement arrangement from Yong Tai Bhd following their mutual agreement to terminate two high-rise property projects with a combined outstanding contract value of RM190.48 million.
Property developer OCR Group Bhd’s units are being sued by their contractor over alleged payment default of RM30.93 million in relation to projects in Kuantan and Petaling Jaya.
Noteworthy:
When: January 2023
Bursa Malaysia Securities Bhd (Bursa Malaysia) has granted a time extension of six months to Iskandar Waterfront City Bhd (IWCity) to submit its regularisation plan following the company’s status as a Paragraph 8.03A affected listed issuer.
GDB Holdings Bhd has claimed that its subsidiary Grand Dynamic Builders Sdn Bhd (GDBSB) was wrongfully terminated from 8 Conlay project.
Malton Bhd is now assessing the financial hit the group will have to take following the apex court's decision earlier on Tuesday (April 18) that quashed a luxury service apartment project that Malton's 51%-owned unit Menang Perkasa Sdn Bhd was building on a plot of Taman Rimba Kiara land here.
DPS Resources Bhd has proposed to acquire 253 acres of freehold land in Melaka for RM45.60 million, to undertake mixed development projects.
Axis Real Estate Investment Trust’s (Axis REIT) posted a marginal increase of 0.92% in its net property income (NPI) to RM58.93 million for the first quarter ended March 31, 2023 (1QFY2023), from RM58.39 million a year earlier, due mainly to rental from newly acquired properties and positive rental reversion in 2022.
Noteworthy:
February 2023
Comintel Corp Bhd has won a contract worth RM229.80 million from Builtamont Development Sdn Bhd (BDSB) to undertake main building works for a suite apartment project in Taman Desa Aman, Kuala Lumpur.
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