Fajarbaru buys Batu Kawan land for RM111m for healthcare hub project
The development presents an opportunity for Fajarbaru to expand its business activities in Penang, and not limited to the development of Medi-City.
The development presents an opportunity for Fajarbaru to expand its business activities in Penang, and not limited to the development of Medi-City.
The Penang-based mechanical, electrical and process utilities design and engineering services provider did not name the multinational company.
“Save for the amount claimed, the petition is not expected to have any financial and operational impact/losses to the group as the amount claimed is 0.
At an extraordinary general meeting on the same day, shareholders approved the name change as well as the group's plan to diversify into interior design and fit-out activities.
The proposed IPO involves a public issue of 132 million new shares and an offer for sale of 59 million existing shares at a price to be determined later, according to its draft prospectus.
They include Rumah Idaman and Rumah Selangorku Harapan while the exemption does not apply to open market and other sub-sector projects.
The project involves the development of Phase 3 of Arundina which consists of 130 units of double-storey semi-detached houses and a unit of Tenaga Nasional Bhd (KL:TENAGA) substation located specifically in Setia Alam.
Tuju Setia said the contract is expected to positively impact the company’s earnings and net assets from the financial year ending Dec 31, 2024, until the contract’s completion.
Reinvigoration of development projects in the data centre and Johor regions still has room to play out, despite the sequential slowdown in data centre contracts in the second quarter of 2024 (2Q2024), the research house said in a note on Thursday.