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Real estate executive Joseph Lau now Crest Builder’s second-largest shareholder

3 weeks ago | edgeprop.my | John Lai

Lau acquired 23.4 million new shares through a private placement at 50 sen apiece, giving him an 11.1% stake in Crest Builder, according to a Monday exchange filing. KUALA LUMPUR (June 9): Datuk Joseph Lau (pictured), 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).
Gadang faces RM19 mil hit from termination of joint development in Cyberjaya

3 weeks ago | edgeprop.my | John Lai

KUALA LUMPUR (June 6): 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. The joint development agreement (JDA) was between Gadang's wholly owned Hillstrand Development Sdn Bhd (HDSB) and Cyberview, Cyberjaya's master developer.
IOI Properties to take full ownership of Singapore’s South Beach development in RM2.75b deal with CDL

3 weeks ago | edgeprop.my | Anis Hazim

The group's wholly owned IOI Consolidated (Singapore) Pte Ltd has inked a conditional share sale agreement with Ascent View Holdings Pte Ltd to acquire the stake in Scottsdale Properties Pte Ltd, the holding company of South Beach Consortium Pte Ltd, which owns the development.
IOI Properties suspends trading over reported takeover of South Beach complex from Singapore's CDL

3 weeks ago | edgeprop.my | Anis Hazim

For IOI Properties, the deal adds another marquee asset to its growing portfolio in Singapore, where it already owns the newly launched IOI Central Boulevard Towers in the central business district and several other high-end residential projects. KUALA LUMPUR (June 4): Trading in IOI Properties Group Bhd’s (KL:IOIPG) shares has been suspended pending an announcement, amid news that the company has agreed to purchase Singapore’s City Developments Ltd (CDL) 50.1% stake in the South Beach complex.
Minority shareholders seek court order to access records for Kumpulan Jetson EGM to remove board

4 weeks ago | edgeprop.my | John Lai

According to a filing with Bursa Malaysia, the shareholders, who claim to collectively own 10.68% of the company, want access to the shareholder list as of May 19. They have asked the High Court to allow the EGM to be held on June 18 or another date set by the court to discuss the issues they raised in their April 23 notice.
AmanahRaya REIT to buy industrial asset in Selangor for RM39m

1 month ago | edgeprop.my | Anis Hazim

Upon completion, the property will be leased back to the seller, Alpha Express, under a 10-year triple net lease at RM195,000 per month, subject to rent reversion for each renewal term. KUALA LUMPUR (May 29): Amanahraya Real Estate Investment Trust (AmanahRaya REIT) (KL:ARREIT) is acquiring an industrial building, measuring 132,700 sq ft, in Telok Panglima Garang, Selangor for RM39 million.
Vestland secures RM157 mil apartment project in KL

1 month ago | edgeprop.my | Anis Hazim

The contract, which is the first win for the company in 2025, was awarded by Mercu Majuniaga Sdn Bhd. KUALA LUMPUR (May 29): Construction outfit Vestland Bhd (KL:VLB) on Thursday secured a RM156.91 million contract to undertake the construction of a 51-storey serviced apartment block in Kuala Lumpur. The contract, which is the first win for the company in 2025, was awarded by Mercu Majuniaga Sdn Bhd, said Vestland in a bourse filing.
Yong Tai to challenge adjudication decision to pay RM75 mil to Kerjaya Prospek

1 month ago | edgeprop.my | Anis Hazim

Kerjaya Prospek’s wholly owned unit Kerjaya Prospek (M) Sdn Bhd (KPM) in November last year filed the adjudication against Apple 99 for an alleged unpaid contract for a mixed development project in Melaka, known as "The Apple". KUALA LUMPUR (May 28): Property developer Yong Tai Bhd (KL:YONGTAI) is seeking to overturn the RM75.46 million adjudication ruling in favour of Kerjaya Prospek Group Bhd’s (KL:KERJAYA) unit, as it claims that the case falls outside the scope of the Construction Act.
Paradigm REIT sets final IPO price at RM1 amid subdued demand

1 month ago | edgeprop.my | John Lai

Slated for listing on the Main Market on June 10, the IPO does not involve issuance of new units, meaning that the trust itself will not receive any proceeds. KUALA LUMPUR (May 28): Paradigm Real Estate Investment Trust (KL:PARADIGM) on Thursday set the final price for its initial share sale at RM1 apiece as previously indicated amid subdued demand from some investors.
E&O’s 4Q net profit nearly doubles, boosted by JV and tax gains, lower finance costs

1 month ago | edgeprop.my | John Lai

Quarterly revenue in 4QFY2025 nearly doubled to RM236.65 million from RM121.33 million, primarily driven by the disposal of a property in the UK. KUALA LUMPUR (May 28): Eastern & Oriental Bhd (KL:E&O) nearly doubled its net profit for the fourth quarter ended March 31, 2025 (4QFY2025), on profits from its joint ventures, a tax gain and lower finance costs. Net profit for the quarter was RM69.85 million compared with RM36.48 million in the previous year.