The arbitration was brought against the subsidiary, GLM Emerald Hills (Cheras) Sdn Bhd (GLM EHills), by Barisan Performa Sdn Bhd, a company contracted to undertake site clearance, earthworks, and other preparatory work on a parcel of land before the contract was terminated.
"Defer the SST on rentals until after Visit Malaysia Year 2026 to preserve industry stability and support tourism-linked growth.
However, analysts are divided on the margins from new clients, at least in the initial stage, compared with the 9%-10% enjoyed by the company through relationship with key clients such as EXSIM Development Sdn Bhd, Maxim Global Bhd (KL:MAXIM) and Platinum Victory Sdn Bhd.
The financing involves CIMB Group Holdings Bhd, Crédit Agricole, DBS Bank Ltd, Malayan Banking Bhd, Standard Chartered, United Overseas Bank, and Oversea-Chinese Banking Corporation Ltd.
The latest contract also marks another step in expanding Binastra’s presence in the Klang Valley.
Lulu Group had six retail outlets in Malaysia, according to a press release in October 2022, when it opened a store in Johor Bahru.
Under the termination agreement, NMCSB must refund Radium its RM14 million deposit paid earlier, along with interest at a rate of 10% per annum, calculated daily.
“Some parties have already approached us, and we have also identified certain malls.
The trust is expected to offer an annualised distribution yield of over 7% for 2025.
The properties are strategically located along the main road, it noted, with easy access to key economic zones and industrial areas, including the Batu Kawan Industrial Park and Valdor.
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