PETALING JAYA (June 30): TAFI Industries Bhd’s disposal of its freehold industrial property in Bukit Pasir, Muar, Johor has progressed following confirmation that all conditions precedent under the sale and purchase agreement (SPA) have been fulfilled.
“The properties are expected to provide additional space for automation, warehousing and R&D [research and development], as well as consolidate operational activities by integrating the acquired properties with the existing factory,” Muar Ban Lee said.
The Edge reported last year that the High Court had set aside a corporate voluntary arrangement (CVA) by True Renaissance Development Sdn Bhd for the Empire Remix development.
The company said it will be buying the factory, situated on 8,217 square metres of leasehold industrial land, for RM7 million, and pay another RM1.
The first sub-contract, valued at RM7.
TAFI said its TAFPSB has entered into a sale and purchase agreement with Comfy Factor Sdn Bhd & NNST Capital Sdn Bhd for the disposal, which will realise a gain after Real Property Gains Tax (RPGT) of some RM8.
Scientex said the landbank expansion is also in line with the goal of the group to build more affordable homes to meet its objective of completing 50,000 affordable homes throughout the country by 2028.
SCIB managing director Rosland Othman said there are no penalties or liquidated ascertained damages to SCIBILL over the termination of the project.
KUALA LUMPUR (Sept 18): Tan Sri Azman Yahya stepped down as executive chairman of Symphony Life Bhd (SLB) on April 2 this year and it “was not long after that that trouble started brewing at the company,” The Edge Malaysia reported this week.
KUALA LUMPUR (Sept 13): Symphony Life Bhd reported a net loss of RM13.
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