News by Sangeetha Amarthalingam

1MDB Real Estate Sdn Bhd (1MDBRE) yesterday awarded WCT Holdings Bhd a RM754.8 million contract to build infrastructure and roadway works for the Tun Razak Exchange (TRX).

Company has land bank in Negeri Sembilan, Penang and in Kedah where it hopes to build a township.

Ecofirst Consolidated announced a proposed renewal share buyback scheme on Tuesday.  

Study is taking all aspects of the running of the service, including financial and funding costs, into consideration.

In a filing with Bursa Malaysia, Minetech said it signed a conditional sale and purchase agreement yesterday with Glamour Heights Sdn Bhd to buy a 7,924 sq m parcel of vacant residential land in Kinta, Perak, for RM6 million cash.

In a statement yesterday, Takaso said it had inked a conditional share sale agreement with A.W. Impian Land Sdn Bhd (AWIL) for the deal. The price is equivalent to about 50% of the market value of the lands.

In a filing with Bursa Malaysia, the group said TDSSB (formerly known as Renown Dynamic Sdn Bhd) has exercised its right to terminate the sale and purchase agreement (SPA) signed on Dec 23, 2013, as the conditions precedent were not fulfilled in accordance with the SPA's provisions.

In a sector note, analyst Tan Siang Hin said sales growth has slowed down with several developers already toning down their sales target from the beginning of the year.

In a filing with Bursa Malaysia, EcoWorld said the extension was pursuant to the expiry of the six-month period — from the letter of award (LoA) — to obtain the planning permission (planning permission period) and its shareholder’s approval (shareholder approval period) at an extraordinary general meeting, pursuant to the proposed Eco Marina Development on Sept 26.

1MDB said potential purchasers were invited to register their interest with Savills (M) Sdn Bhd, which is advising 1MDB on the exercise.