Sime Darby announced on Feb 27 it would be spinning off its plantation and property businesses, by listing the two units separately as Sime Darby Plantation Bhd and Sime Darby Property Bhd on Bursa Malaysia, via share distribution to existing shareholders.
Instead, it will competently manage properties in its portfolio.
The project is undertaken by Tropicana Ivory Sdn Bhd, a 55:45 joint venture between Tropicana Corp Bhd and Ivory Properties Group Bhd.
Malaysia's Genting Group and Pavilion Group are partnering with Vietnam-based property developer Van Thinh Phat Group Corp to develop the US$6 billion (about RM24 billion) Saigon Peninsula mixed project in Ho Chi Minh City, Vietnam.
RHB Banking Group cut its base rate (BR) from 3.8% to 3.65% per annum and reduced its base lending rate (BLR) and base financing rate (BFR) from 6.75% to 6.6%. The revision followed an earlier cut on Bank Negara Malaysia's recent decision to reduce the overnight policy rate (OPR) from 3.25% to 3%.
The expected influx of high-rise residential units, partly due to more launches of affordable homes, is likely to put a cap on prices in Penang in the next few years.
Premier lifestyle developer Mah Sing Group Bhd posted a net profit of RM95.03 million or 3.18 sen per share in its first financial quarter ended March 31, 2016 (1QFY16), a slight decline from the RM98.89 million or 4.63 sen a share it recorded in 1QFY15.
Koong Wai Seng has been appointed as the new chief executive officer (CEO) of property developer Sunsuria Bhd, with effect from today.
TSR Capital Bhd's wholly-owned subsidiary TSR Bina Sdn Bhd has bagged construction jobs worth RM268.9 million from Kwasa Land Sdn Bhd.
Lim: We have open, competitive tenders. We also carry out public consultations before we give the final approval and there are environmental safeguards.
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