News by Halim Yaacob

Varia Bhd said its indirect wholly owned subsidiary Varia Southrise Sdn Bhd has entered into a collaboration agreement with Seri Alam Properties Sdn Bhd to jointly undertake the development of a freehold residential parcel in Bandar Seri Alam, Johor Bahru, comprising a proposed 645-unit stratified housing project with an estimated gross development value (GDV) of about RM250 million.

The proposed acquisition by Enrich Horizon Sdn Bhd (EHSB) of two parcels of leasehold land measuring about 859,897 sq ft in Mukim Plentong, Daerah Johor Bahru, Johor, was completed yesterday. 

The group has entered into two “build and lease” agreements at Elmina Business Park with Pearl Computing Malaysia Sdn Bhd, a wholly-owned subsidiary of Singapore-based Raiden APAC Pte Ltd, in respect of hyperscale data centre developments. 

The fund supports the group’s SHIFT32 strategy to grow recurring income streams via investment yield and fee-based income. 

The acquisition from Maybank Trustees Bhd, acting as trustee for AmFIRST REIT, covers Menara AmBank together with related assets and rights, including existing tenancies, licences, operational assets, and essential contracts. 

Chin Hin Group Bhd has been steadily accumulating shares in two of its listed subsidiaries — Ajiya Bhd and Chin Hin Group Property Bhd — through a series of open and off-market transactions between late May and early June 2026, triggering simultaneous disclosure obligations in Bursa filings across both companies yesterday.

Y&G Corp Bhd's acquisition of three parcels of leasehold land in Sepang, Selangor has been deemed completed, marking the conclusion of a three-asset acquisition exercise announced on August 11, 2025.

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.

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.