News by M

Tropicana Corp Bhd is deepening its bet on Langkawi's tourism-driven property market, with its wholly-owned subsidiary Tropicana Scenic Development Sdn Bhd (TSDSB) acquiring two separate parcels of land on the island for a combined consideration of RM195.88 million, according to the company's announcements on Bursa Malaysia.

Eleven Malaysia Holdings Bhd (SEM) is pushing upstream into food production, with its 60%-owned subsidiary QVI Foods Sdn Bhd signing a Sale and Purchase Agreement (SPA) yesterday to acquire a parcel of freehold agricultural land in Seri Kembangan, Selangor for a cash consideration of RM19 million, or approximately RM205 psf, according to its announcement on Bursa Malaysia.

Avaland Bhd is expanding its footprint in Kuala Lumpur's luxury residential segment, with its indirect wholly-owned subsidiary Nexus Advertising Sdn Bhd (NASB) signing a conditional sale and purchase agreement (SPA) yesterday (April 28) to acquire three adjoining parcels of freehold development land in the prestigious Taman U-Thant embassy enclave for RM86,039,000, according to its announcement on Bursa Malaysia.

UEM Sunrise Bhd (KL:UEMS) rose for a fourth straight session on Tuesday, driven by speculation over its undervaluation, potential takeover interest and re-rating prospects as it looks to unlock value from its Johor landbank.

KLCCP Stapled Group (KL:KLCC), controlled by Petroliam Nasional Bhd, said rising cost pressures may weigh on its retail and hotel segments this year amid heightened economic uncertainty from prolonged Middle East tensions.

The company said it remains open to revisiting the acquisition should suitable opportunities arise.

The land was acquired from five individual vendors. 

Over the same period, the company facilitated more than 116,000 property transactions across the country.

The project represents a joint venture with Wawasan Group and marks Mitraland’s third industrial development, following Lake 6 Entrepreneurs’ Park (Series I) in Puchong and Air Hitam Entrepreneurs’ Park (Series II) in Klang.

Framing the project within Sepang’s broader urban agenda, Ani highlighted the role of such developments in enhancing liveability and environmental resilience.