News by Justin Lim

CapitaLand Malaysia Trust (CLMT) is buying 91.8% of the total strata floor area of retail parcels in Penang's Queensbay Mall from parties related to CapitaLand Investment Ltd (CLI) for RM990.5 million in a related-party transaction.

Under the JVA, the development will be on a sharing basis of 83:17 between ABSB and KKMBPB, respectively.  

S&F Capital Bhd (previously known as Leweko Resources Bhd) is acquiring 9.44 acres of land near Kulim Hi-Tech Park (KHTP) in Kedah for RM7.4 million.

Ireka Corp Bhd said it will jointly develop houses on a piece of land in Seberang Perai Tengah with Wakaf Pulau Pinang Sdn Bhd (WPPSB), a corporate representative of the Penang State Islamic Religious Council (MAINPP).

It would be building 107 apartment units in a two-storey walk-up block and 294 units in a 21-storey tower.

The construction job is in respect of the main building works for the proposed development of two blocks of residential condominiums, which consist of a podium, car park, common facilities and swimming pool, located in Bukit Jalil, said SunCon in a filing with Bursa Malaysia.

Parkson said the tenant would be entitled to rent-free periods for each first- to four months of the first three years within the term, totalling 12 months.

Real estate developer Jiankun International Bhd has entered into a joint development agreement (JDA) with NTL International Holdings (M) Sdn Bhd, a freehold land owner in Semenyih, to develop a serviced apartment with a gross development value of RM215.1 million — more than three times Jiankun’s current market value.

Malaysia and Singapore have completed the upgrading of the electricity interconnector between both countries to enable mutual energy transfer in times of power outage, Singapore's Energy Market Authority (EMA) said in a statement on Wednesday (Oct 26).

Advancecon Holdings Bhd’s 51%-owned indirect subsidiary Spring Energy Sdn Bhd (SESB) is disposing of a piece of land in Kedah to plastic packaging manufacturer Thong Guan Industries Bhd for RM34 million or RM9.95 per sq ft.