News about myedgeprop

Shares of WCT have more than doubled so far this year, tracking strong gains in the construction sector, and partly boosted by news of the planned REIT listing in recent months.

Negotiations have been ongoing and “actively progressing”, senior federal counsel Shamsul Bolhassan told a three-member Court of Appeal bench led by judge Datuk Lee Swee Seng, following a court order last month to transfer the land to the liquidators of Semantan Estate (1952) Sdn Bhd.

The construction firm said its wholly-owned TSR Bina Sdn Bhd had accepted the contract from Sime Darby Property Bhd.

Bina Darulaman said the transition “will not affect BDB’s financial integrity” as KPMG has not audited BDB’s financial reports for the financial year ending Dec 31, 2024 (FY2024).

This comes after his father and Chin Hin founder, Datuk Seri Chiau Beng Teik, also ceased to be a substantial shareholder in NCT Alliance when he sold a 3.

The construction of the terraced houses is expected to be completed within three years, while the substations are projected to be finished within six months after receiving the architect’s instructions, the company said.

This is going to be the second REIT to be controlled by billionaire tycoon Tan Sri Desmond Lim Siew Choon, after Pavilion REIT.

The planned launches during the year with a total estimated gross development value (GDV) of RM459 million include new phases of double-storey houses within Glomac’s established township developments.

In a bourse filing, the group said its wholly-owned unit SCIB Properties Sdn Bhd has entered into an agreement with a real properties investment company Ginteck Sdn Bhd to acquire the land for RM9.

This latest contract win follows a RM234.