Paradigm Real Estate Investment Trust (KL:PARADIGM) made a flat Main Market debut on Tuesday, as it closed at RM1, unchanged from its initial public offering price amid a softer broader market.
It is buying the property from High Rich Realty Sdn Bhd, which is controlled by Datuk Seri Tiong Chiong Hoo, Kelvin Tiong Yung Yiing, Clara Tiong Siew Ee and Rosalina Ling Hung Ching via Oriental Evermore Sdn Bhd and Bright World Trading Co Ltd.
The placement shares, totalling up to 253 million or 10% of the company’s share base, will be placed out to independent third-party investors.
Datuk Joseph Lau, the head of the developer behind Desa ParkCity township, has emerged as the second largest shareholder of construction firm Crest Builder Holdings Bhd (KL:CRESBLD).
Andara, which is Sime Darby Property Bhd’s final landed residential project in Ara Damansara, recorded an 85% take-up rate to date since its launch on April 27.
A bid by the former operator of Kuala Lumpur Tower to institute contempt proceedings against Communications Minister Datuk Fahmi Fadzil and others was tossed out of court on Monday.
Ho Hup Construction Co Bhd (KL:HOHUP), which slipped into Practice Note 17 (PN17) status earlier in April, has defaulted on revolving credit facilities from AmBank Islamic Bhd amounting to RM45.3 million.
Gadang Holdings Bhd (KL:GADANG) announced it will allocate about RM19 million in additional costs for the financial year ending May 31, 2025 (FY2025), following the termination of an agreement to jointly develop a parcel of land in the Cyber 9 precinct of Cyberjaya with Cyberview Sdn Bhd.
Mitraland Group founder Chuah Theong Yee has ceased to be a substantial shareholder in steel products maker Eonmetall Group Bhd (KL:EMETALL).
The Malaysian Anti-Corruption Commission (MACC) will apply to forfeit the 60-storey Ilham Tower, worth about a billion ringgit, owned by the late Tun Daim Zainuddin’s family, a report says.
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