KUALA LUMPUR (July 4): After six years, property development and construction firm TWL Holdings Bhd, formerly known as Tiger Synergy Bhd, has decided to scrap its plans to jointly develop a residential and/or commercial development in Klang, Selangor, with LJ Development (KL) Sdn Bhd. In a filing with Bursa Malaysia on Tuesday (July 4), TWL…
Read MoreKUALA LUMPUR (July 4): Minister of Local Government Development (KPKT) Nga Kor Ming said his ministry is pushing for the enactment of a new law, the draft of which will be tabled soon, to speed up the redevelopment of old properties for urban renewal. In Kuala Lumpur alone, there are 139 aged and poorly maintained…
Read MoreThe group remains optimistic and believes that there will still be demand for properties in prime locations in Tropicana’s established, matured and developing townships. KUALA LUMPUR (July 4): Property developer Tropicana Corporation Bhd (Tropicana) has redeemed its Sukuk Wakalah Programme’s RM465.5 million tranche due on June 30, 2023. This Sukuk Wakalah Programme was part of the RM1.5 billion Islamic Medium Term Notes Programme issued by the group. The management cited that the group will continue…
Read MoreKUALA LUMPUR (July 4): WCT Holdings Bhd is to acquire the remaining 49% stake in its joint venture with TSR Capital Bhd’s wholly owned unit TSR Bina Sdn Bhd (TSRB) for RM1.47 million.WCT, via its wholly owned subsidiary WCT Bhd (WCTB), and TSRB had accepted a RM676.8 million job from PNB Merdeka Ventures Sdn Bhd to…
Read MoreKUALA LUMPUR (July 4): SkyWorld Development Bhd posted revenue of RM841.4 million, with profit before tax (PBT) and profit after tax (PAT) clocked in at RM204.8 million and RM150.7 million respectively for the financial year ended March 31 (FY2023). The RM150.7 million is the highest PAT ever recorded by the city property developer. Meanwhile, net profit…
Read MoreKUALA LUMPUR (July 4): The High Court has, in a landmark decision, set aside the corporate voluntary arrangement (CVA) by True Renaissance Development Sdn Bhd for the Empire Remix abandoned project in Subang Jaya. This is the first decision made on a CVA that has been challenged in court. Judge Ahmad Murad Abdul Aziz delivered…
Read MoreKUALA LUMPUR (July 4): Construction and mechanical and electrical (M&E) services provider LFE Corp Bhd is taking over the main building works of the phase two of a mixed development in Damansara that comprises a serviced apartment and a SOHO block with an office cum medical/health centre here for RM105 million, from its 51%-owned unit Cosmo Property Management…
Read MoreKUALA LUMPUR (June 30): MK Land Holdings Bhd says it has valid and reasonable grounds to stay the enforcement of an RM18.36 million arbitration award that favours Crest Builders Sdn Bhd (CBSB), and to set it aside. The developer said this in a brief bourse filing on Friday (June 30), in which it also said…
Read MoreKUALA LUMPUR (June 30): UEM Sunrise Bhd’s The Connaught One in Cheras “witnessed an overwhelming response” during its launch over the weekend of June 24 and 25. The event which took place at Forest Valley Hall in Bandar Mahkota Cheras saw more than 800 attendees, among whom were from the company’s customer loyalty programme, Trésor…
Read MoreKUALA LUMPUR (June 30): Conlay Construction Sdn Bhd (CCSB) is the new main contractor for KSK Land Sdn Bhd’s flagship 8 Conlay development. According to a media release by the KSK Group, a Letter of Award was (LOA) signed between Damai City Sdn Bhd (Damai City), a wholly owned subsidiary of KSK Land, and CCSB…
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