News by Emir Zainul

The steel products manufacturer said the 3.48 million sq ft land, currently owned by Kapar Holding Sdn Bhd, is situated at the proximity of the group’s present plant and office in Kapar.

"The disposal provides an opportunity for the company to realise its non-core capital investment to better re-allocate its capital resources."

TSR Capital said this is the second disposal of property by the group since August 2019, and forms part of its assets rationalisation plan to monetize its investments in property assets.

Revenue for the year dipped 2.2% to RM342.28 million against RM350.15 million a year ago, owing to lower occupancies at The Mines (TM) and Sungei Wang (SW), as well as lower rental rates at TM and downtime from asset enhancement initiative (AEI) at SW and TM, CMMT said in a bourse filing.

Zerin Properties has refuted the claim made by CBRE|WTW managing director Foo Gee Jen last week that should prices not correct substantially, it will take the next five years to clear unsold stocks of SOHOs and SOVOs.

In a filing with Bursa Malaysia, the group said the police raided part of the premises, tenanted by a third-party, in relation to a drug probe.

The contract — which entails the supply, delivery, installation, testing, commissioning and maintenance of street lighting, high mast and traffic light system — was awarded to its wholly-owned subsidiary Mudajaya Corp Bhd by Turnpike Synergy Sdn Bhd.

Vizione said the design and build contract awarded by Laju Damai Sdn Bhd involves one block of 29-storey service suites totaling 664 units, as well as two blocks of three-storey shop offices comprising 38 units, along with carpark block, mechanical and electrical and external works.

"We are happy that the matter has been definitively decided and a clear directive given by the Prime Minister on the future direction of PLUS."

The trading accounts belong to several key individuals involved in these companies.