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Located along the Embassy Row, the project sits 500m from the proposed Tasik Ampang MRT3 Circle Line station and has quick access to Akleh and MRR2.

The lack of clarity on US trade policy also added to the pressure investors are facing just days away from the July 9 tariff deadline.

The offer price represents a premium of nearly 85% over Kim Hin’s last traded price of 46 sen on July 3 before trading in the stock was suspended for the announcement.

Transport Minister Anthony Loke said these incidents, while understandably inconvenient for passengers, actually demonstrate the integrity and reliability of the new aerotrain’s safety systems.

Residents will be near the township’s 300-acre Central Park and the 2,700-acre Bukit Cherakah Forest Reserve.

The two contracts follow four contracts worth RM145.

Kim Hin has been in the red since the financial year ended Dec 31, 2018.

Additionally, LB Aluminium said it will sign a three-year tenancy agreement to lease the land back to Lucksoon Metal, which is currently occupying the property to operate a business involving metal works and trading of metal products.

The property developer, originally set up in 2013 to focus on foreign projects, in May proposed to change its name after announcing a planned pivot to the Malaysian market.

Tengku Sulaiman, 69, was appointed as executive chairman in February 2003, before being re-designated as non-executive chairman in March 2005.