(Nov 28): China’s escalating push to have its banking behemoths backstop struggling property firms is adding to a maelstrom of woes for the US$57 trillion (RM266.33 trillion) sector. Already stung by soaring bad loans and record low net interest margins, lenders such as Industrial and Commercial Bank of China Ltd (ICBC) may soon be asked...
Read moreKUALA LUMPUR (Nov 28): Gadang Holdings Bhd is acquiring a 21.08-acre land in Kwasa Damansara for RM114.78 million, or RM125 per square feet, to be developed into a residential project. The group is acquiring the land via its indirect wholly-owned subsidiary Elegance Sonata Sdn Bhd (ESSB) from Kwasa Development (3) Sdn Bhd (KD3), said Gadang in a...
Read moreOTS Holdings OTS has announced the proposed acquisition of a property in Johor, Malaysia through its wholly-owned subsidiary Ellaziq (Malaysia) at a purchase consideration of RM14.3 million ($4.1 million). The property, which consists of 1.66 hectares of freehold land and a factory unit for food processing, is currently owned by Yong Mei Foodstuffs Manufacturing (M)....
Read moreKUALA LUMPUR (Nov 28): Swift Haulage Bhd, the country’s largest haulier, is acquiring three pieces of industrial land totalling 21,702 sq m in Butterworth, Penang from smaller transport and logistics peer Transocean Holdings Bhd for RM30.15 million. Swift Haulage had on May 23 accepted the offer from Transocean involving the disposal of the proposed land....
Read moreKUALA LUMPUR (Nov 24): ECM Libra Group Bhd is adding to its hospitality assets by acquiring two leasehold properties in the city centre of Liverpool, UK — the Tune Hotel and a ground floor shop with basement — for £4.5 million or about RM26.48 million. In a bourse filing, ECM Libra said it has, through...
Read moreGEORGE TOWN (Nov 23): The State Legislative Assembly was on Thursday told that the implementation of the undersea tunnel will be considered by the state government after the North Butterworth Container Terminal (NBCT) Expansion Plan has been finalised by the Penang Port Commission (SPPP) in December 2023. State Infrastructure and Transportation Committee chairman Zairil Khir Johari (pictured) said based...
Read moreSINGAPORE (Nov 24): Bursa Malaysia-listed property developer Tropicana Corporation believes it is time to scale up its expansion in Johor, Malaysia. It intends to unlock 800 acres of “premium landbank” with a gross development value (GDV) of RM43 billion ($12.3 billion). Tropicana is no stranger to Johor. In 2010, it established a foothold in the state when...
Read moreKUALA LUMPUR (Nov 23): Kerjaya Prospek Property Bhd (KPProp), which reported a net profit of RM22.8 million for its second quarter ended Sept 30, 2023 (2QFY2024) — little changed from a year ago — is looking for new strategic plots to increase its land bank, especially in the Klang Valley, to ensure a steady pipeline...
Read moreKUALA LUMPUR (Nov 16): Apex Equity Holdings Bhd is disposing off the 11-storey Menara Apex in Kajang, together with the land, for RM55 million to Era Edu Sdn Bhd, which operates the New Era University College education arm. Taking into account related expenses and taxes, Apex Equity estimates net proceeds of RM49.95 million, with an...
Read moreKUALA LUMPUR (Nov 17): Crescendo Corp Bhd has announced its third land disposal in Pulai, Johor Bahru, this time three vacant pieces of land measuring 2.62 million sq ft for RM315.17 million cash to Microsoft Payments (M) Sdn Bhd. Crescendo, through its subsidiary Panoramic Industrial Development Sdn Bhd (PID), had earlier this month announced the disposal of...
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