"As the acquisitions are funded by internal funds, the group will not be exposed to credit risk. There are on-going projects undertaken by Mitrajaya Group to enable it to meet its financial obligations, hence the non-development of the properties will not pose a risk in cash flow management," Mitrajaya said in a bourse filing on Friday (Feb 18).

The penthouse has a spacious built-up of 3,785 sq ft living space that comes with four bedrooms. Tall ceilings, 400 sq ft of outdoor terrace, fully operational wood fireplaces and a wet bar in the primary suite, this is a penthouse where a family of four has enough space for their own privacy. 

While he began his foray into the industry by selling residential and commercial properties, Siow only discovered his niche in the industrial properties market two years ago. In an interview with EdgeProp Malaysia, Siow explains that the jump to industrial came from understanding that he was more of a “facts and figures” person, which would put him in a better stead to handle industrial transactions, compared to residential transactions.

The B&B is able to accommodate up to nine guests with a maximum of 12 guests on the premise that the three additional guests come with their own sleeping bags, jokes Samantha Fernandez, who co-owns the business via a joint venture with the owner of the property where the B&B resides.

The group said the acquisition, which is expected to be completed by the second quarter of 2022, will enable it to diversify and tap into the water infrastructure construction works, which it noted are complementary to its existing property development business and CHCSB's construction business.

Noteworthy:

● Freehold
● Built-up: 5,154 sq ft
● Three bathrooms
● Unfurnished
● Amenities: public transportation within walking distance to LRT Kinrara BK5, highway access via Lebuhraya Bukit jalil, 12-min drive to Pavilion Bukit Jalil, 9-min drive to IOI Mall Puchong.

When: November 2021

“This is in line with our strategy to optimise MLT’s portfolio and future-proof our assets through asset rejuvenation,” said chief executive officer of MLT’s manager Ng Kiat.

In a statement, MARC said the revised outlook reflects its increasing concern over the rise in Tropicana's borrowings, which stood at RM4.5 billion (including the outstanding perpetual sukuk) as at end-September 2021 from RM2.8 billion when the initial rating was assigned in April 2020

In a filing, the group said the new ICPs have a tenure of nine months and will mature on Nov 15, 2022, while the new IMTNs have a tenure of three years and will mature on Feb 14, 2025.

Quarterly revenue slipped 5.83% to RM41.38 million, from RM43.95 million a year earlier, primarily due to lower contributions from the group's gaming and property investment business segments.