Axis Real Estate Investment Trust (REIT) chief executive officer Leong Kit May knew that the trust has a “gold mine” waiting to be excavated in its 50-acre (20.23ha) property in Klang. So much so that the first development on this land can generate a net yield of nearly 10% over 10 years.
OSK Holdings, controlled by tycoon Tan Sri Ong Leong Huat, made a fresh takeover offer for PJ Development in September at RM1.50 a share, and 50 sen for each PJDEV-WC warrant.
"The proposed sale and leaseback is not expected to give rise to any gain or loss to the Lion Diversified Holdings Bhd Group as the transaction is a finance lease."
Scientex Bhd's net profit rose 10.7% to RM54.14 million or 23.54 sen a share for the fourth quarter ended July 31, 2016 (4QFY16) from RM48.91 million or 21.66 sen a share a year ago, on higher revenue contribution and better operational efficiency in the group's consumer packaging operations and resilient demand for its affordable properties in Johor.
"Through Rehda (Real Estate and Housing Developers' Association Malaysia), developers have expressed their hope on this to the government."
Minister Tan Sri Noh Omar said the ministry was instructed by the cabinet to review and improve the scheme, given that it already exists under the Moneylenders Act 1951.
Confirming The Edge Financial Daily's report today, Minister Tan Sri Noh Omar gave a briefing during the cabinet meeting on the developer lending scheme.
Housing ministry keen to proceed with scheme — source
RAM Rating Services does not expect the property sector to be significantly lifted by the move to allow eligible developers to apply for a moneylender's licence to provide loan facilities to house buyers...
Property developers have hit back at the Selangor government for amending policies and imposing surcharges that would increase their costs of business…
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