News by Chester Tay

Move should boost its cash pile up to RM256.47 mil

But managing director Datuk Seri Robert Tan Chung Meng said he is not at liberty to disclose the identity of the party that made the offer, or the price that was offered.

S P Setia Bhd is confident of achieving its RM4 billion property sales target for financial year ending Dec 31, 2016 (FY16) by being selective of projects the company chooses to pursue.

The construction outfit said its wholly-owned subsidiary — Kimlun Sdn Bhd — had accepted the letter of award from Hillcrest Gardens Sdn Bhd for the construction of five blocks of Rumah Selangorku affordable apartments in Mukim Petaling, Selangor.

Integrated Logistics Bhd (ILB) is selling two of its Hong Kong-based warehousing outfits for HK$137.3 million (RM68.74 million), in line with its aim to divest most of its remaining business operations in China.

Malaysia Property Inc (MPI) has ceased operations as it has accomplished its objective of managing the property overhang issue and in branding Malaysia's real estate sector overseas, the government said today.

Titijaya Land Bhd has entered into an agreement with The Ascott Ltd for two of its upcoming property developments located in Penang and Shah Alam, Selangor, which have a collective gross development value (GDV) of RM4.1 billion.

Property developer cum resort operator Sentoria Group Bhd bagged two development projects in Kuantan and Sepang that are collectively worth some RM110 million.

The property developer has set a higher sales target of RM480 million for 2016, after surpassing last year’s RM400 million sales target to hit RM432 million, said its group chief executive officer Jeffrey Chew Sun Teong.