Rivertree STF Synergies Bhd (RSSB), formerly known as Sinmah Capital Bhd, is seeking shareholders’ approval to acquire two property development companies for a combined RM46.288 million and dispose of another for RM12.972 million, as the group reshapes its property development pipeline.
OSK Property has brought forward the launch of Phase 2 of its OSK Ombak beachfront development in Kuantan, Pahang, by 18 months after Phase 1 was fully taken up within three months of its unveiling, according to the developer.
The company will acquire a 17-acre site at the managed industrial park, located near the West Coast Expressway.
Armani Hallson KLCC will be the first project introduced under the initiative.
The construction group said the contract covers the construction of 61 three-storey terrace houses and one electrical substation.
The consideration for Sejati Sentral was revised down to approximately RM17 million from the indicative RM17.55 million, while that for FYT Land was increased to approximately RM21.87 million from RM21.27 million.
The Court of Appeal also allowed the plaintiffs' appeal against the High Court's dismissal of their application to amend the writ and statement of claim.
The 35,332 sq m (8.73-acre) site was sold to buyers Lim Chee Cheng and Lim Chee Meng.
The completion of the transaction, known as MKH Acquisition 2, makes MKH a subsidiary of Batu Kawan's Whitmore.
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