News by Justin Lim

The group on Thursday (Jan 6) entered into an agreement with Granprop Sdn Bhd and Premier Land Resources Sdn Bhd for the acquisition of the 80-acre (3.48 sq ft) land.

In a filing with Bursa Malaysia, Country Heights said it has entered into a memorandum of the contract with the licensed auctioneer, Ng Chan Mau & Co Sdn Bhd, pursuant to the successful bid to acquire the property from Mines Resort Sdn Bhd.

This is the fourth consecutive year that the country’s energy consumption recorded a positive growth. It grew 10.4% to 57,219 ktoe in 2016 from 51,829 ktoe in 2015. It then continued to grow to 62,489 ktoe in 2017 and 64,658 ktoe in 2018.

In a statement, the group said the various stages of movement control order negatively impacted its property investment, recreation and resort operations during the quarter.

The company also foresees a pick-up in transactions before the home-ownership campaign (HOC) ends on Dec 31, 2021, supported by the current low interest environment and its online sales capability.

The development comprises an 18-storey service apartment block, and an 11-storey SoHo block on top of a seven-storey office and medical centre podium with commercial space.

The placement is expected to raise up to RM19.89 million to fund the upgrading works of Persoft Tower.

"Supportive economic policies — as seen from the expansionary Budget 2022 — should also bode well for growth prospects going into 2022.”

The acquisition of the 9.79-acre land is to further expand Gromutual’s business in the development of ready built industrial facilities. 

The private placement will involve 31.5 million shares or 10% of Samaiden's total number of issued shares.