News by M

Property developer Naim Holdings Bhd (KL:NAIM) is disposing of a parcel of land in Samarahan, Sarawak to Onlyee Flora Sdn Bhd for RM223.38 million.

WCT Holdings Bhd (KL: WCT), whose share price surged to a near five-year high on Wednesday, has proposed to establish a real estate investment trust (REIT) comprising its retail properties, and list it on the Main Market of Bursa Malaysia.

The main contractor of the East Coast Rail Link (ECRL), China Communications Construction Company Ltd (CCCC), is going to bear the operational risks of the rail together with its asset owner, Malaysia Rail Link Sdn Bhd (MRL).

Noteworthy:

• Freehold
• Built-up size: 1,500 sq ft
• 3 bedrooms, 3 bathrooms
• Fully furnished
• Nearby amenities: TERKL, KLCC Park, Pavilion Bukit Bintang, F&B outlets, Plaza Low Yat, Tung Shin Hospital, Raja Chulan monorail station, MRT Bukit Bintang, Dataran Merdeka, Central Market, schools
• Accessibility: Jalan Raja Chulan, Jalan Pudu, Jalan Imbi, Jalan Sultan Ismail, MEX, Sungai Besi Expressway, AKLEH

When: May 2024

Shares in WCT Holdings Bhd (KL:WCT) jumped to their highest in nearly five years on Wednesday after Malton Bhd (KL:MALTON), a company related to WCT's largest shareholder Tan Sri Desmond Lim Siew Choon, bought a piece of land in Genting Highlands to build serviced apartments and luxury villas.

Scanwolf Corp Bhd is diversifying into construction and construction-related activities.

Noteworthy:

• Freehold
• Built-up size: 3,000 sq ft
• Land size: 4,370 sq ft
• 5 bedrooms, 4 bathrooms
• Unfurnished
• Nearby amenities: MRT Semantan, MRT Pusat Bandar Damansara, Pavilion Damansara Heights, DC Mall, The Five @ KPD, Plaza Damansara, HELP University, National Science Museum
• Accessibility: SPRINT-Damansara Link and Kerinchi Link, Jalan Tuanku Abdul Halim, Jalan Semantan, LDP, Jalan Damanlela

When: February 2024

Malton Bhd (KL:MALTON) said it is acquiring 30.17 acres of freehold land in Genting Highlands from fellow property developer Global Oriental Bhd (KL:GOB) to build serviced apartments and luxury villas.

The six key tenants are Mercato (anchor tenant), Anytime Fitness, Health Lane Family Pharmacy, myNEWS (KL:MYNEWS), Swimology and Hattitude Salon.

Onn Hafiz also attended a roundtable discussion that UOB facilitated with regional business leaders, where his delegation presented on its strategies, priority sectors and implementation plans for the SEZ.