KLCC Property to buy rest of Suria KLCC stake for RM1.95b
KLCCP said it has entered into a share purchase agreement with Ocmador (Malaysia) City Retail Centre Sdn Bhd, Port Moresby Investments Ltd and Bold Peak Sdn Bhd for the proposed acquisition.
KLCCP said it has entered into a share purchase agreement with Ocmador (Malaysia) City Retail Centre Sdn Bhd, Port Moresby Investments Ltd and Bold Peak Sdn Bhd for the proposed acquisition.
In a sector update on Friday, the research house said that if the government decides to proceed with the Johor Light Rail Transit (LRT) and Kuala Lumpur-Singapore High-Speed Rail (HSR) projects, it could boost demand for residential, commercial and industrial properties in Iskandar Malaysia in the coming years, leading to an increase in prices for strategically located parcels of land.
In a company update note on Friday, the research house expressed pleasant surprise at this development, considering it as yet another effort by SimeProp to activate its non-core land bank.
Sime Darby Property’s group managing director Datuk Azmir Merican said the partnership will serve as a vehicle to commercially develop affordable homes to provide greater access to homeownership for a wide range of customers.
YNH, however, did not reveal the indicative price range or materiality of the disposal, though Bursa had, in its request for more information issued on Jan 19, also asked for that, besides the indicative timeline to finalise the disposals, current stage of negotiation, and identity of the property or properties, including location and land size.
Some of the brands are Jaya Grocer, Harvey Norman, The Coffee Bean & Tea Leaf, Nak Nak, Inside Scoop, Kenny Hills Bakers, Jibby & Co, Chica Bonita, Sushi Zanmai, Para Thai, Super Saigon, Dolly Dim Sum, Watsons, Toys“R”Us, Twigs Bookshop, Lavender Bakery, Nyonya Colors, Ali, Muthu & Ah Hock, The Bike Artisan, Pets Wonderland and Happy Fish.
“Landed residential is Sime Darby Property’s forte.
YNH Property was the third most active stock with a trading volume of 233.
At the time of writing, YNH Property, the property developer linked to prominent investor Datuk Dr Yu Kuan Chon, witnessed an all-time high trading volume of 218.
This marks the third time that YNH, which is linked to prominent investor Datuk Dr Yu Kuan Chon, hit limit down within the past two weeks.