News by Syafiqah Salim

Varia Bhd (KL:VARIA) has lodged a sukuk murabahah programme of up to RM3 billion with the Securities Commission Malaysia.

Construction firm GDB Holdings Bhd (KL:GDB) has proposed a private placement of 93.75 million new shares, representing about 10% of its issued share capital, to independent third party investors Datuk Seri Chan Leng Sam and Datuk Seri Voon Thien Loong.

YNH Property Bhd (KL:YNH) expects to book an estimated profit of RM105 million from the residential project in Bangsar South that it is planning to jointly develop with Genland Sdn Bhd.

The group is also in talks with potential strategic partners to provide new technologies.

UOA Development Bhd (KL:UOADEV) is transferring three properties in UOA Business Park, near Subang Jaya, to UOA Real Estate Investment Trust (KL:UOAREIT) in a related-party deal worth RM200 million.

Tropicana Corp Bhd (KL:TROP) said it has redesignated its group managing director, Din Tan Yong Chia, as deputy group CEO, effective Thursday.

Trading in Meridian Bhd’s (KL:MERIDIAN) shares will be suspended from Oct 8 if the loss-making property developer fails to release its annual report by Oct 7.

Epicon Bhd (KL:EPICON) is diversifying into property development by investing RM72.13 million to form a joint venture with NCT Alliance Bhd (KL:NCT) to undertake a terraced home project in Batang Kali.

OSK Holdings Bhd (KL:OSK) said the group is acquiring a 3.3-acre land in Subang Jaya from Tropicana Corp Bhd (KL:TROP) for RM44.34 million to develop serviced apartments.

“The group will adopt a prudent approach by leveraging its strategic land bank to develop properties that meet market needs.”