News by Syafiqah Salim

UOA Development Bhd (KL:UOADEV) is transferring three properties in UOA Business Park, near Subang Jaya, to UOA Real Estate Investment Trust (KL:UOAREIT) in a related-party deal worth RM200 million.

Tropicana Corp Bhd (KL:TROP) said it has redesignated its group managing director, Din Tan Yong Chia, as deputy group CEO, effective Thursday.

Trading in Meridian Bhd’s (KL:MERIDIAN) shares will be suspended from Oct 8 if the loss-making property developer fails to release its annual report by Oct 7.

Epicon Bhd (KL:EPICON) is diversifying into property development by investing RM72.13 million to form a joint venture with NCT Alliance Bhd (KL:NCT) to undertake a terraced home project in Batang Kali.

OSK Holdings Bhd (KL:OSK) said the group is acquiring a 3.3-acre land in Subang Jaya from Tropicana Corp Bhd (KL:TROP) for RM44.34 million to develop serviced apartments.

“The group will adopt a prudent approach by leveraging its strategic land bank to develop properties that meet market needs.”

SkyWorld Development Bhd (KL:SKYWLD) is set to more than double its earnings over the next three years, said BIMB Securities.

Fraser & Neave Holdings Bhd (KL:F&N) has proposed to dispose of its half stake in a non-core property asset in Petaling Jaya for about RM180 million to focus on growing its dairy farm business.

LB Aluminium Bhd (KL:LBALUM), which is involved in the aluminium and property development businesses, posted a 30.9% year-on-year increase in first-quarter earnings, lifted by stronger contributions from its property segment on the back of higher sales.

The proposed facility with a storage capacity of two million pallet positions is aimed at accelerating the group’s expansion into logistics automation.