Negotiations have been ongoing and “actively progressing”, senior federal counsel Shamsul Bolhassan told a three-member Court of Appeal bench led by judge Datuk Lee Swee Seng, following a court order last month to transfer the land to the liquidators of Semantan Estate (1952) Sdn Bhd.
The construction firm said its wholly-owned TSR Bina Sdn Bhd had accepted the contract from Sime Darby Property Bhd.
Bina Darulaman said the transition “will not affect BDB’s financial integrity” as KPMG has not audited BDB’s financial reports for the financial year ending Dec 31, 2024 (FY2024).
This comes after his father and Chin Hin founder, Datuk Seri Chiau Beng Teik, also ceased to be a substantial shareholder in NCT Alliance when he sold a 3.
The construction of the terraced houses is expected to be completed within three years, while the substations are projected to be finished within six months after receiving the architect’s instructions, the company said.
This is going to be the second REIT to be controlled by billionaire tycoon Tan Sri Desmond Lim Siew Choon, after Pavilion REIT.
The planned launches during the year with a total estimated gross development value (GDV) of RM459 million include new phases of double-storey houses within Glomac’s established township developments.
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In a bourse filing, the group said its wholly-owned unit SCIB Properties Sdn Bhd has entered into an agreement with a real properties investment company Ginteck Sdn Bhd to acquire the land for RM9.
This latest contract win follows a RM234.
DONE DEAL: Town house, Taman Bukit Serdang, Selangor DONE DEAL: Verticas Residensi, Bukit Bintang, Kuala Lumpur Ampang Hilir’s landed residential properties fall into three main built-up size ranges, a majority of properties falling into the 1,000 to 2,000 sq ft range.
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