News by Sangeetha Amarthalingam

Property management service provider Ideal Sun City Holdings Bhd aims to secure three contracts worth up to RM40 million in total in the next six months, propelling its transfer to the Main Board on Bursa Malaysia in a year's time.

MRCB on Oct 6, 2015 completed the disposal of the stake in Nu Sentral to Pelaburan Hartanah Bhd for RM119.78 million cash, which generated a gain of RM70 million.

Hong Kong-listed Sino Haijing Holdings Ltd is investing RM280 million in Yong Tai Bhd under a corporate exercise and emerged as its new substantial shareholder with more than 33% of the voting rights.

Selangor Dredging Bhd (SDB) is proposing to develop 588 units of residential properties with a gross development value of RM450 million on two pieces of land it is acquiring in Ulu Klang, Selangor.

Industry players concurred that the risk of cancellation for these jobs is minimal. MRT 2, LRT 3 and Pan Borneo [Highway] are among the safe ones.

Tower REIT said the revaluation done by independent valuers, Raine & Horne International Zaki and Partners Sdn Bhd, will raise the unaudited net asset value by 2.71 sen per unit.

Chief minister Lim Guan Eng said this in relation to 1MDB president and group chief executive officer Arul Kanda Kandasamy's recent admission that the 234 acres of land it purchased in Air Itam here for RM1.38 billion by the group's property arm, 1MDB Real Estate (Ayer Itam) Sdn Bhd, was not 100%-owned.

To be developed in eight phases, the proposed project will feature cluster homes, semi-detached homes, shop offices and homes under the Johor affordable housing scheme.

The proposed approx. 35km alignment of DUKE Phase-3 will traverse north to south of Kuala Lumpur and serve areas such as University Tunku Abdul Rahman, Wangsa Maju, Setiawangsa, Ampang, Tun Razak Exchange and Bandar Malaysia, and Kerinchi.

Anzo, formerly known as Harvest Court Industries Bhd, said it had entered into a settlement agreement yesterday (Dec 16) to terminate the June 19, 2014 SPA.