Mah Sing sells land in Penang to raise money for growth

Mah Sing Group Bhd, one of the biggest property development companies in Malaysia by asset size, intends to use the money raised from the sale of an undeveloped plot of land in Penang to buy more land in the future. Its wholly owned subsidiary Klassik Tropika Development Sdn Bhd is selling a parcel of land...

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M&G Real Estate acquires Minato Mirai Center in Japan for $997 mil

EDGEPROP (SINGAPORE) – M&G Real Estate has acquired Minato Mirai Center for more than $997 million, as announced on Oct 4. The prime-grade office building in Yokohama was acquired on behalf of M&G Asia Property Fund. “The latest acquisition is a continuation of our strategy to invest in Japan’s key gateway cities and develop assets in...

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Ecobuilt bags RM93m project to develop a business complex in Penang

KUALA LUMPUR (Jan 19): Ecobuilt Holdings Bhd’s unit has bagged a construction works project worth RM92.46 million to develop a business complex in Penang, according to its bourse filing on Thursday. The group said its wholly owned subsidiary Rexallent Construction Sdn Bhd has accepted the letter of award dated Jan 5 issued by ADM Design &...

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Kumpulan Jetson to dispose of industrial land in Gombak for RM35 mil

KUALA LUMPUR (Jan 19): Automotive, rail and industrial part maker Kumpulan Jetson Bhd has proposed to dispose of a 1.62-hectare industrial land in Gombak, with a factory complex built on it, for RM35 million. “The proposed disposal will unlock the value of and monetise the long-held property investment,” the group said, adding that the proceeds will...

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Radium launches R Suites Chancery Residences in Ampang

KUALA LUMPUR (Jan 18): Radium Development Bhd launched its latest property called the R Suites Chancery Residences in Ampang, Selangor. The 2.18-acre freehold project comprises 944 residential suites, commercial spaces, exclusive facilities and amenities, and a 145-room hotel, which will be managed by a renowned, established independent KL-based hotel brand. Radium’s managing director Gary Gan Kah Siong...

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Mapletree Investments and PAG to acquire Hong Kong’s Goldin Financial Global Centre for US$713 mil

SINGAPORE (EDGEPROP) – Mapltree Investments, together with investment firm PAG, have entered into an agreement to form a 50:50 joint venture to acquire Goldin Financial Global Centre (GFGC) from receivers for HK$5.6 billion or US$713 million ($948 million). The 28-storey office tower, located in Kowloon East, Hong Kong was the former headquarters of distressed investment...

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Tex Cycle to sell two factories for RM19 mil

KUALA LUMPUR (Jan 10): Tex Cycle Technology (M) Bhd has proposed to dispose of two detached factories in Puchong for RM19 million, noting that they have increased in value since their acquisition in 2004. “The proposed disposal is expected to result in a gain on disposal of approximately RM13.72 million,” the group said in a Bursa Malaysia...

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