Malaysia Building Society Bhd (MBSB) will acquire the entire equity interest in Malaysian Industrial Development Finance (MIDF) from Permodalan Nasional Bhd (PNB) via a RM1.01 billion share deal.
The agreement, which proposed AHSB to build 33 industrial lots with a gross development value of RM278.78 million, was mutually terminated by the pair.
Roads closed due to construction work will be reopened soon to reduce traffic congestion in the Klang Valley, according to Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.
Fajarbaru Builder Group Bhd has secured a RM125.3 million construction contract for a mixed development project in Penang.
Property developer OCR Group Bhd has planned a private placement of up to 40% of its share base to raise an estimated RM26.97 million to fund its development projects.
The stake, comprising 69.89 million shares was sold via direct business transactions on March 30.
The purpose of the exercise is to reduce UDA’s financial burden and ensure the company continues to implement development projects for the economic growth of the country as well as safeguard the interest of bumiputera in urban areas.
The MOU is part of China’s RM170 billion foreign direct investment commitments secured by Malaysia in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to China last week.
Berjaya Land Bhd (BLand)’s application for a six-month extension to comply with its approved public shareholding spread requirement of 20% was rejected by Bursa Malaysia Securities Bhd.
Symphony Life Bhd is suing its former development partner for RM150 million over a terminated agreement to jointly develop residential condominiums in Langkawi.
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