Sunway to buy remaining 70% stake in prefabricated home builder for RM25.5m
Upon completion of the acquisition, Sunway pointed out that the acquisition will also entail financial requirements to fund the future development of Sakura Residence.
Upon completion of the acquisition, Sunway pointed out that the acquisition will also entail financial requirements to fund the future development of Sakura Residence.
TM-Nxera is a joint venture between Telekom Malaysia (KL:TM) and Singapore Telecommunications Ltd (Singtel).
"As we reevaluate our remaining land bank potential, this divestment and monetisation strategy sets the groundwork for substantial technological, economic and community advancements in Johor.
With this deal, EcoWorld has joined other companies that have ridden the recent wave of artificial intelligence, particularly in data centres, which has swept through the capital market in Malaysia.
“The proposed industrial park, about the size of 1,000 football fields, will be one of the largest purpose-built fully integrated new industrial estates in Johor.
The plan comprises the RM3.
Post transaction, the REIT’s enlarged portfolio will consist of 10 properties, with the proportion of industrial and logistics properties increasing from 10% to 11% of its total portfolio's net lettable area of approximately 4.
The JV — Inneonusa Sdn Bhd — is 51%-owned by TM, 39%-owned by UEM and 10% by IIB.
Maybank IB said Forest City, which has been identified as a special financial zone and a potential high-speed rail (HSR) station in Iskandar Puteri, should continue to attract buying interest in the region.
It saw over 100 million shares traded, indicating investors' avid interest in the company due to its huge land bank in Johor, which is seen as a hotspot for the property sector due to upcoming high-value transit developments such as the Johor-Bahru Singapore Rapid Transit System and the formation of the Johor-Singapore Special Economic Zone (SEZ) in the state.