Sunway Bhd's indirect wholly owned subsidiary SMCL Haven 3 Pte Ltd and CSC Land Group (Singapore) Pte Ltd have received a letter of award from Singapore's Urban Redevelopment Authority for a parcel of land at River Valley Green, Singapore, at a tender price of S$750.57 million (about RM2.4 billion).
GLM REIT Management Sdn Bhd, the manager of Tower Real Estate Investment Trust (Tower REIT), announced a change in its shareholding following GuocoLand (Malaysia) Bhd’s divestment of a stake in the company.
The contract covers two phases of building works under a single award, comprising in total two 46-storey serviced apartment blocks of 540 units each.
Ricloud is described as an AI cloud infrastructure provider serving AI industry participants, hyperscalers, and government entities.
The proposed land disposals were completed last Friday (June 19) after Neuwhite Sdn Bhd paid the balance 90% of the disposal considerations to Ultimate Ivory Sdn Bhd.
The new businesses are expected, once operational, to contribute 25% or more of the group’s net profit and/or result in a diversion of at least 25% of net assets.
The claim is brought by Raymond Joseph William King on his own behalf and on behalf of other current and former landowners in the Mulgoa Rise area.
Following the disposal, Berjaya Securities ceased to be a shareholder of Citaglobal.
The land carries a strategic location within the Bukit Raja growth corridor, and a market value of mixed-use properties in the surrounding area.
Both figures are subject to adjustment in accordance with the terms of the respective agreements.
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