News by Emir Zainul

Expanding its portfolio of investment properties, Kanger International Bhd has acquired 15 units of the proposed serviced apartments in Tower A of Antara Genting Highlands Resort Suites for RM19.77 million.

Fire protection equipment supplier Fitters Diversified Bhd is disposing of an 8.05-hectare freehold land in Cameron Highlands for RM15 million, with an estimated gain on disposal of RM12.35 million.

Penang Development Corp (PDC) will be required to fully refund the deposit paid by Umech Land Sdn Bhd amounting to RM64.60 million following the termination of the joint development agreement (JDA) for the development of Batu Kawan Industrial Park 2 (BKIP2).

UEM Sunrise Bhd is disposing of a 6% stake in Nusajaya Lifestyle Sdn Bhd (NLSB), the developer and operator of the Mall of Medini, Iskandar Malaysia, to Iskandar Investment Bhd’s (IIB) unit Iskandar Harta Holdings Sdn Bhd (IHH), for RM8.92 million.

Timber manufacturer Minho (M) Bhd said it is acquiring a 7.84-hectare piece of freehold land in an industrial area in Kuala Selangor for RM18.41 million.

Hasbi added that the year 2023 involves major structural works such as beam launching, construction of stations and track laying.

Chow stated the board of directors of PDC said the change in majority shareholders of Umech Land’s equity structure which was done without informing PDC and without PDC’s approval “is a serious issue and cannot be accepted by the board of PDC”.

Rosmah, in her application, was also seeking to be acquitted and discharged, arising from the declarations sought.

Justice Datuk Has Zanah Mehat, who led a three-member panel, ruled that the decision made pursuant to an exercise of royal prerogative of mercy cannot be varied or confirmed by the court and, as such, is not justiciable. 

In the meantime, Najib may defer filing his defence until the stay application is disposed of.