Binastra said its wholly owned subsidiary Binastra Builders Sdn Bhd has accepted the letter of award for the piling works from Exsim on the Causewayz Square @ JBCC development, comprising 4,525 units across four residential towers.
As a result, trading in Ivory’s securities will be suspended effective Aug 29, and the company will be de-listed on Sept 3, unless an appeal is submitted.
“High-rises are producing rental yields in the 4.
The Members of Parliament have called for the Bill to be referred to two committees—Infrastructure, Transportation and Communications, and Women, Children and Community Development—and for a full social impact study to be commissioned.
It dismissed claims that the revised ceiling does not reflect “uncontrolled cost escalation” but adjustments to market realities since the project was first mooted nearly a decade ago.
Ivory Properties has been in Practice Note 17 (PN17) status since 2022 after its auditor flagged its ability to continue as a going concern.
Sime Darby Property said its property development segment continued to be the main revenue contributor, accounting for 93.
Housing and Local Government Minister Nga Kor Ming tabled the bill, with its second and third readings scheduled for next Wednesday (Aug 27).
Quarterly revenue inched up 1.
According to the group, the termination was prompted by recent economic conditions, which led both companies to re-evaluate the proposed transaction and re-examine the parcels of land identified for disposal.
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