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.
Axis REIT said the proposed acquisition of the property from Venice Tulip Sdn Bhd would enable the REIT to strengthen its portfolio of industrial properties.
The group said its 4QFY21 results were driven largely by the property development segment which contributed revenue of RM52.49 million and profit before tax of RM8.56 million.
Quarterly gross revenue fell 30.5% to RM48.68 million against RM70.05 million a year ago.
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