The consortium also proposed a 100% industrial plan rather than having 10% of the site earmarked for mixed use purpose as mandated, citing the site's potential and "evolving demand of investors".
Excluding the exceptional losses, net profit for 4QFY2024 would be RM286 million, according to KLK.
“It was also RM179 million higher than a previously cancelled direct deal.
The development presents an opportunity for Fajarbaru to expand its business activities in Penang, and not limited to the development of Medi-City.
No dividend was declared for the quarter by either KLK or Batu Kawan.
The facility will have a floor area of 166,300 square feet and will be located beside the current ViTrox Campus 3.
For the first six months of FY2024, KLK’s net profit fell 45.
The warehouses will provide sufficient storage space that caters to the tenant’s logistics and inventory requirements, including storing raw materials, finished products or equipment.
KLK’s property segment profit improved by a third to RM11.
According to media reports, Penang Chief Minister Chow Kon Yeow said a pre-qualification request for the RFP was advertised from Feb 8 and the tender will continue to be advertised in mainstream media and PDC’s website for six weeks until March 21.
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