Eco World Development Group Bhd has despatched a circular to its shareholders, seeking their approval for its proposed acquisition of two parcels of land in Batu Kawan, Penang for RM875.24 million.
Sitting on a 14,000 sq ft freehold site, Isola KLCC is a RM206 million project with 140 serviced residence units. Each unit will have one to three bedrooms and built-ups of between 635 sq ft and 1,625 sq ft.
Prestariang Bhd has proposed to acquire eight properties at Star Corporate Park, Star Central@Cyberjaya for RM25.5 million, to accommodate its future expansion plans.
The disposal, according to the filing, was done on Jan 20, 2017 via “a private arrangement”.
IGB REIT reported stronger sequential earnings in 4QFY2016 which grew 2% quarter-on-quarter to RM70.3 million.
Move will split the conglomerate into three listed entities.
In a technicals note today, the research house said should RM1.74 resistance level be broken, it may continue to lift price higher to the next resistance levels of RM1.80 and RM1.87.
In a note today, the research house said it was positive on the move, as the planned spin-offs allow Sime to crystalise values of its businesses.
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