News by M

Iskandar Waterfront City Bhd (IWC) shares, which resumed trading yesterday following the announcement that it is merging with its parent Iskandar Waterfront Holdings Bhd (IWH), climbed as much as 10.4% before paring some of the gains to settle at RM1.76 — still up 12 sen or 7.32% compared with its last traded price last Friday.

Property developer LBS Bina Group Bhd has proposed a rights issue to raise up to RM165.6 million to fund its projects and general working capital requirements.

Hong Kong-listed Country Garden Holdings Co Ltd has closed all sales centres in China for its Forest City housing project in Johor, according to a South China Morning Post report yesterday.

Sony Interactive Entertainment recently passed the 50 million mark for the PlayStation 4 (PS4) consoles sold since the gaming console was officially made available in November 2013.

Every country has its own set of challenges but among the main hurdles faced by investors, including Malaysians, when it comes to investing in properties overseas are financing and legal issues. This was raised during a forum at the recent two-day Malaysian Annual Real Estate Convention 2017 (MAREC‘17), organised by the Malaysian Institute of Estate Agents (MIEA) on March 3 and 4.

Iskandar Waterfront Holdings Sdn Bhd (IWH) says its Bandar Malaysia land is also included in the corporate exercise announced yesterday which involves the group merging with Iskandar Waterfront City Bhd (IWC).

Cahya Mata Sarawak Bhd’s (CMS) cement and construction materials divisions remain major beneficiaries of the Pan Borneo Sarawak Highway and would support earnings into 2017 with physical works expected to accelerate in the second half of 2017.

Iskandar Waterfront City Bhd (IWC) announced a proposed merger with its major shareholder Iskandar Waterfront Holdings Bhd (IWH) through a one-for-one share swap exercise in which IWH would take over the listing status upon completion.

Singapore is the second-most important destination in the world for Asian ultra-high-net-worth individuals (UHNWIs) when it comes to real estate investments, according to the latest edition of Knight Frank’s Wealth Report 2017, released on March 1. The UK remains the top destination, followed by Singapore, Hong Kong, China and the US.

LBS Bina Group Bhd has teamed up with YPJ Plantations Sdn Bhd to jointly develop a mixed township in Kota Tinggi, Johor, with an estimated gross development value (GDV) of RM2.6 billion.