Sime Darby Bhd has finally rolled out its long-awaited demerger exercise plans last Thursday, which will divide the group into three entities — Sime Darby Plantation Bhd, Sime Darby Property Bhd and Sime Darby Bhd.
WCT Holdings Bhd has proposed to place out up to 10% of its existing issued and paid-up share capital, or approximately 125 million shares.
Earnings to be underpinned by its Vietnam engineering, procurement and construction (EPC) contract worth RM1.9 billion, and other local jobs such as Sungai Besi-Ulu Klang Elevated Expressway (RM508 million).
Stonor 3 was soft-launched in October 2016, while its mixed development project in London is now slated to be unveiled by end-2017, due to slower-than-expected approval for the amended planning permission.
News of the stake disposal came in as a surprise. Tan Sri Desmond Lim already has a retail REIT in Pavilion REIT and property development business in Malton.
Most of the planned launches are on track to be unveiled by end-2016 with the exception of St Kilda, Melbourne which has been postponed to 2017.
Saizen REIT is a Singapore-based REIT established since 2007 with the objective of investing into Japanese residential real estate assets. The company has a market capitalisation of S$34.7 million…
This parcel, with an aggregate area of about 20.7ha is located in Mukim of Kota Tinggi, Daerah Kota Tinggi, Johor...
The group announced overnight a rationalisation exercise which will see its construction business (held through 75%-owned MITC Engineering Sdn Bhd) injected into 51.2%-owned listed subsidiary, ML Global Bhd. The consideration sum of RM225 million will be settled via the issuance of 200.8 million ML Global shares and 135 million irredeemable convertible preference shares, both at 67 sen each.
This comes as a pleasant surprise given that the amount is not due till end-2017.
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