News by M

In a stock exchange filing yesterday, Metronic said the JV agreement, dated Nov 15, 2013, lapsed after the parties failed to procure the necessary approvals and consents from the relevant authorities within the period provided in the agreement. The slowdown in the property market was also cited as a factor.

Singapore’s Prime Minister Lee Hsien Loong was present together as guest-of-honour with Vietnam’s deputy PM, Trinh Dinh Dung, at the opening ceremony held this morning at the office development in HCMC.

According to a report on the New Straits Times daily, online applications for the homes on www.yayasansultanibrahim.org.my were made available from 5pm today.

Located at Bangsar South through the support of UOA Group, the Home·2·Com Solution Centre serves as a platform in providing references and inspiration to various business-to-business-to-consumer (B2B2C) segments, showcasing various technologies suitable for application in the home as well as in town and commercial areas.

Nazri said in Parliament today that the RM2.9 billion figure includes contribution from visa fees of RM6.85 million, opening of savings accounts of RM542.55 million and purchase of property of RM673.96 million.

Scientex said its property business registered higher profit, consistent with higher sales, though its manufacturing business profit slipped, mainly due to lower product margins from both industrial and consumer packaging segments.

The share consolidation plan, said Mulpha, will be done on the basis of 10 existing shares for one consolidated share, which will see its share capital reduced to 319.62 million from 3.196 billion currently.

The key reason for venturing beyond Singapore was largely due to “the property cooling measures” rolled out in phases over the past seven years, according to Mohamed Ismail Gafoor, CEO of PropNex Realty.

Yong Tai announced that it has entered into a Conditional Sales and Purchase Agreement (SPA) with Mustazah Osman and Laila Endut (the vendors) of Laila Development Sdn Bhd for the acquisition of their entire block of issued shares in Laila Development for RM35 million cash. Laila Development is the registered and beneficial owner of the two vacant leasehold plots of six acres each.

IOI Properties said it received valid applications for 1.51 billion rights shares over the total amount of 1.1 billion rights shares available for subscription.