News by EDGEPROP.MY

Independent adviser MainStreet Advisers Sdn Bhd has concluded (in an independent advice circular yesterday) that the RM0.24 per share mandatory take-over offer for Maxim Global Bhd is "not fair and not reasonable", and recommended that holders reject the offer.

EWI Capital Bhd (formerly known as Eco World International Bhd) is seeking shareholder approval to dispose of its Australian land asset in Macquarie Park, New South Wales, for a cash consideration of A$32 million (approximately RM90.65 million), with its independent adviser having concluded that the proposed disposal is fair and reasonable and not detrimental to the interests of non-interested shareholders.

Sapura Industrial Bhd (SIB) has proposed to dispose of a vacant leasehold industrial land in Ayer Keroh, Melaka, to Loongsen Plastics (M) Sdn Bhd for RM10,477,260 in cash.

KIP Real Estate Investment Trust (KIP REIT) has submitted a listing application to Bursa Malaysia Securities Bhd in connection with its proposed placement of new units.

Chin Hin Group Property Bhd (CHGP) is acquiring a factory and warehouse complex in Selangor Science Park 1 for RM92.5 million, with plans to redevelop the site into a stratified industrial hub carrying an estimated gross development value (GDV) of RM612 million comprising about 322 units in Kota Damansara.

OCR Group Bhd has extended the heads of agreement (HOA) deadline for its proposed acquisition of a 49% equity interest in Chester Properties Sdn Bhd by two months, allowing the parties additional time to negotiate and finalise the definitive agreement.

SkyWorld Development Bhd has unveiled “SkyWorld 2040”, a 15-year long-term strategic plan aimed at positioning the group among Southeast Asia’s top 30 property developers by 2040.

T7 Global Bhd’s wholly owned subsidiary T7 Property Sdn Bhd has entered into a sale and purchase agreement to acquire an office unit at KL Trillion, Jalan Tun Razak, Kuala Lumpur, from Tan Kay Shen for RM1.6 million in a related-party transaction.

Batu Kawan Bhd’s wholly owned subsidiary Whitmore Holdings Sdn Bhd has completed the first tranche of its acquisition of shares in MKH Bhd via a direct business transaction (DBT), as part of a proposed conditional mandatory take-over offer at RM2 per share.

Tanco Holdings Bhd is seeking shareholder approval to acquire a 300-acre parcel of land in Port Dickson for RM88.5 million and to provide up to RM250 million in funding and guarantees for the first phase of the proposed Port Dickson Free Zone (PDFZ) development.