Chin Hin is acquiring the stakes in CSS Engineering & Construction Sdn Bhd (CEC) and Critical System Specialist Sdn Bhd (CSS) from two individuals, with total cash of RM26.
The target is to build 2,000 to 3,000 units of affordable houses with solar power on the roofs, two-metre wide walkway and bicycle lanes with internet connectivity.
Meanwhile, apart from overcapacity, Misif has identified low green technology adoption and limited access to quality scrap as among issues that the industry is facing.
The proposed MLFF system is estimated to cost RM3.
In line with the development of the GTP project, Nextgreen expects its working capital requirement to increase, adding that the group intends to allocate the balance of the proceeds for working capital.
The group’s construction and property earnings grew 35% to RM195 million in 1QFY2024, compared with 1QFY2023’s earnings of RM145 million.
“The ministry has also taken action to freeze 20 housing development accounts (HDA) for projects in the sick category.
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Current solutions of EOT for developers and LAD for homebuyers are in place, but the issue of “sick” housing projects not only persists but continues to rise.
“Our earnings recognition and future cash flow will be backed by our unbilled sales of RM1.
The project is to be developed on a 16,517 m2 freehold vacant land in Bandar Kajang, which is owned by Regal Variety.
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