News about Australia

KUALA LUMPUR (May 23): UOA Development Bhd independent director Alan Charles Winduss has been redesignated as independent and non-executive chairman of the company.

S P Setia Bhd (May 15, RM3) Maintain outperform with a target price (TP) of RM4.

KUALA LUMPUR (April 24): The liberalisation in the permissible list of activities provides alternative growth opportunities to Malaysian Real Estate Investment Trusts (M-REITs) in the areas of acquiring vacant land to undertake property development activities, acquisition of assets with provision of income support and investments through private leases, said the Malaysian REIT Managers Association (MRMA).

Sold for: RM3.

PETALING JAYA (April 12): UEM Sunrise Bhd’s first project in Australia, Conservatory in Melbourne, is now in the completion stage, with apartment units from the first phase to be handed over to purchasers beginning end-September.

KUALA LUMPUR (April 11): Fajarbaru Builder Group Bhd has, via its unit, bought 98 shares or a 49% stake in Australian firm Beulah Northcote Land Pty Ltd (BNL), for A$98 (RM290.

PETALING JAYA (April 2): Permodalan Nasional Bhd (PNB) has completed the disposal of its 90 High Holborn property in London for an undisclosed sum, said its chairman Tan Sri Abdul Wahid Omar.

KUALA LUMPUR (March 30): Eco World International Bhd (EWI), which is 27%-owned by Eco World Development Group Bhd, has raised its sales target for its financial year ending Oct 31, 2018 (FY18), to RM3 billion from RM2 billion previously, based on plans for its existing projects and additional sales it intends to achieve from its new Be Living sites.

PETALING JAYA (March 10): Victoria will ban the use of flammable cladding material in its response to the tragic Grenfell Tower fire in London last year that claimed 71 lives, reported The Age.

PETALING JAYA (March 8): A former Australian civil servant has received a letter of demand for over A$20 million (RM60.