News by M

According to a Bloomberg report, subsidised junkets that once flew in prospective buyers to development sites in Johor have dwindled, while some buyers who have put down money for deposits are mulling cancelling their purchases.

Hua Yang Bhd emerged as Magna Prima’s largest shareholder in April after raising its stake in Magna Prima to 30.06% from 10.84%.

Malaysian Resources Corp Bhd (MRCB) said its major shareholders Employees Provident Fund (EPF) and Gapurna Sdn Bhd (GSB) will avoid triggering any mandatory general offer (MGO) while they apply for excess rights shares and warrants under the group’s cash call exercise.

For the acquisition, S P Setia is proposing a cash call plus private placement to raise the required funding.

TNB gives a few safety tips for homeowners who would be away from home this festive season.

The Edge Property has garnered US$4 million (RM17.16 million) funding from various prominent investors.

Jaks Resources Bhd, whose profitability was dragged down by its loss-making property division in the financial year ended Dec 31, 2016 (FY16) and first quarter ended March 31, 2017 (1QFY17), said it would take some time for the division to start bearing profits.

Wanda Group had in May this year been reported to have expressed "desire" to participate in the Bandar Malaysia development.

The group has in hand, eight property projects split between Melaka, Pahang, Selangor, Kuala Lumpur and Negeri Sembilan.

The company intends to transform the land into a high-rise residential development.