News about ST

KUALA LUMPUR (April 14): S P Setia Bhd, Permodalan Nasional Bhd (PNB) and Amanahraya Trustees Bhd (as trustee for Amanah Saham Bumiputera) have entered into a non-binding Memorandum of Intent to commence negotiations on the proposed acquisition of I&P Group Sdn Bhd by S P Setia.

SINGAPORE (April 14): Ascott Residence Trust (ART), through its wholly-owned subsidiary Zenith Residences Tokyo Tokutei Mokuteki Kaisha (Zenith TMK), has agreed to divest its trust beneficiary interests (TBI) of 18 rental housing properties under Zenith TMK’s portfolio in Tokyo, Japan, for 12 billion yen (approximately S$153.

PETALING JAYA (April 14): Property developer Stellar World Sdn Bhd is set to launch the first serviced suites project at The Gateways integrated development in Perak this Saturday (April 15).

PETALING JAYA (April 13): Aset Kayamas Sdn Bhd’s The Hamstead condominium project in Desa Tun Razak, Kuala Lumpur was fully taken up in three hours during its launch last Saturday (April 8).

KUALA LUMPUR (April 13): Matrix Concepts Holdings Bhd is putting its plans to expand its property development business overseas on hold, as it strives to cater to existing demand for properties in Malaysia.

KUALA LUMPUR (April 13): Lion Industries Corp Bhd is selling an industrial property in Kapar, Klang, to Yinson Corp Sdn Bhd for RM45 million to partly settle some outstanding debts owed by its 99%-owned Amsteel Mills Sdn Bhd (AMSB), after which it will lease back the asset from Yinson Corp.

THE weekend of April 1 and 2 marked 2017’s first new residential project launch from Vietnam — RichLane Residences, Mapletree Investments’ maiden condominium project in Ho Chi Minh City.

KUALA LUMPUR (April 12): MIDF Research has projected the construction industry to grow by 6.

KUALA LUMPUR (April 12): Mulpha International Bhd’s resort on the Great Barrier Reef in Australia will be closed till mid-2018 for rectification works following “sufficiently extensive” damage caused by Cyclone Debbie on March 28.

SINGAPORE (April 12): Imperium Crown, the Catalist-listed property developer and property investment company, has received letters of intent for the remaining two properties within its Japanese property portfolio, namely Green Forest Itabashi and Hatchobori Place properties, for a total sale price of S$38.