HeiTech may sell HeiTech Village building

By BUSINESS TIMESHEITECH Padu Bhd may sell its HeiTech Village building in Subang Jaya, Selangor to Permodalan Nasional Bhd (PNB) for RM65 million. In a statement yesterday, HeiTech Padu said PNB has given the company a letter of offer to sell and lease back HeiTech Village. “The proposed disposal of HeiTech Village will enable the [...]


Mah Sing sells two more Icons for RM560m

By BUSINESS TIMESPROPERTY developer Mah Sing Group Bhd has sealed a deal to sell two commercial properties in Kuala Lumpur to Kuwait Finance House (KFH) and Autron Corp Ltd for RM560 million.The two buildings are the second and third en bloc sales for Mah Sing in the last four months.In July, it agreed to sell [...]


Glomac to sign S&P for tower project early-2008

By BUSINESS TIMESPROPERTY developer Glomac Bhd hopes to sign the sales and purchase agreement for its yet-to-be-built Glomac Tower by early next year.”While an offer of RM577 million was made, we are only ready to receive any offers once all the approvals are in place,” said Glomac group managing director Datuk Fateh Iskandar Mohamed Mansor [...]


YTL wins bid to buy Singapore condos for RM1b

By BUSINESS TIMESBUILDER and power group YTL Corp Bhd has won a tender to buy 50 condominiums en bloc in Singapore for S$435 million (RM1.01 billion) cash.The purchase of the Westwood Apartments condominium on Singapore’s Orchard Boulevard is the largest residential collective sale since the new enbloc law came into force on October 4.En bloc [...]


E&O to take property arm private

By BUSINESS TIMESEASTERN & Oriental Bhd (E&O), a construction and property group, plans to take its property arm private in an all-share deal worth some RM609 million.It also plans to take shares of E&O Property Development Bhd (EOPD) off the stock market.”The E&O board is of the opinion that the streamlining of E&O and EOPD [...]


Developers join forces to build luxurious Twins at Damansara Heights

By THE EDGEKUALA LUMPUR: Four established property developers have teamed up to develop a luxury premier high-rise residential project known as Twins at Damansara Heights in the Damansara town area.The four, Malaysia’s the Lion group, the real estate investment arm of American International Group Inc, Singapore-based Koh Maju, and Heeton Holdings Ltd, will form a [...]