The purchaser, 4X Software Sdn Bhd, was unable to fulfill the stipulated condition precedent within the agreed timeline, which ended on Dec 26, 2024, according to AmanahRaya Kenedix REIT Manager Sdn Bhd, the REIT’s manager.
On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.
Wisma Majujaya, based in Klang, filed the suit on May 16 last year at the Shah Alam High Court via Messrs Lim Chee Wee Partnership, where it is seeking a court order for the defendants to pay the sum of RM28.
The project includes four business blocks, one serviced apartment block, and a six-level podium parking structure with residential facilities.
Scientex said the acquisition will boost its existing landbank, which aligns with the company’s goal to build more affordable homes, according to its filing.
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May shared that the REIT is currently in closed talks with potential acquisition targets valued at RM300 million with heavy inclination towards industrial.
Malaysia offers a more competitive environment compared to Singapore while still providing easy access to Singapore's financial and professional resources.
Home financing solutions will be offered by AFFIN BANK to homebuyers of TH Properties’ current developments, namely Bandar Enstek, Warisan Puteri 2, and Padang Residences.
“Anyone interested in starting a career in real estate should enter it with the mindset to solve problems for their clients.
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