UEM Land Holdings Bhd has entered a deal to acquire a 122.28-acre freehold land in Pulai, Johor Baru, from Khazanah Nasional Bhd's group for a cash consideration of RM93.2mil.
In a statement to Bursa Malaysia, UEM Land said the conditional sale and purchase agreement signed yesterday involved its wholly owned subsidiary Nusajaya Premier Sdn Bhd and Khazanah's wholly owned subsidiary Tanjung Bidara Ventures Sdn Bhd.
The proposed acquisition for the land, which is located adjacent to Kota Iskandar and UEM Land's existing integrated waterfront and marina development, Puteri Harbour, in Nusajaya, is expected to complete within seven months.
SP Setia Bhd yesterday announced a record-breaking quarter with sales at RM933 million for its first quarter ended 31 January.
BANK Negara Malaysia's new growth estimate of 4 per cent to 5 per cent this year is realistic in a sluggish external demand environment, a regional economist says.
But domestic demand, which is expected to be main driver of growth, will be affected by the central bank's tightening policy stance on credit, said Dr Chua Hak Bin, who is Bank of America Merrill Lynch head of Emerging Asia Economics.
"Domestic demand growth will be affected by the policy measures for cars and properties and we have already seen the January sales number for cars dip," he said in an interview here yesterday.
Johor Corp (JCorp), the asset-rich but debt-laden state investment arm, has received the green light from the Government to issue up to RM3bil in government-guaranteed bonds as part of its debt refinancing plan, sources said.
The sources said that the bonds would be issued “soon” by its arrangers CIMB and Maybank, well in time to meet the July 31 deadline when RM3.6bil of JCorp's existing bonds mature.
SP Setia Bhd posted a 19.3% year-on-year jump in net profit to RM74mil for its first quarter ended Jan 31.
The property giant attributed this mainly to an increase in gross profit margins from 25% to 30%.
However, revenue for the quarter under review declined by 5.3% to RM491.6mil.
Economists contacted agree with Bank Negara's gross domestic product (GDP) growth forecast of between 4% and 5%, with the domestic economy providing the impetus, while global growth will continue to be challenged by the eurozone debt crisis.
Although some encouraging signs are emerging from the advanced economies, Bank Negara trimmed growth estimate for 2012 from the 5% to 6% projected by the Treasury during Budget 2012 in October 2011.
The pre-opening promotional annual passes for Legoland Malaysia has received positive response from the public since it went on sale recently.
Some 10,000 passes accounting to 60% of its total quantity were sold to families with children aged 2-12.
The offer of the special discounted pre-opening annual pass would last for a limited period until April 16.
Legoland Malaysia general manager Siegfried Boerst said the response was overwhelming with families and Lego enthusiasts purchasing the passes since it was launched last December.
“Take full advantage of our special prices before the deal comes to an end,” he urged.
GAAM selaku peneraju projek, berhasrat menarik Iebih 2,000 rakyat Jepun untuk menetap, bekerja atau menjalankan perniagaan di negeri ini FUJIMURA MASANORI Ketua Pegawal Eksekutif GAAM Global Asia Assets (M) Sdn. Bhd. (GA-AM), syarikat perunding bangunan aset bagi pelabur Jepun merancang memajukan perbandaran barn Little Japan’ yang pertama sumpamanya di Malaysia dengan pelaburan dijangka melebihi RM500 juta.
Melalul projek yang akan diadakan di Taman Molek di sini, GAAM selaku peneraju projek, berhasrat menarik lebih 2,000 rakyat Jepun untuk menetap, bekerja atau menjalankan pemiagaan di negeri ini menerusi program Malaysia Rumah Keduaku (MM2H) dalam tempoh lima tahun.
Mersing Laguna, the RM22 bilion eco-tourism project which will see the transformation of Mersing from a sleepy coastal town into an international tourist destination, will be completed in seven years time.
Ungku Safian Abdullah, the chief executive officer of Radiant Starfish Bhd, the master developer of the project, said reclamation works to create three islands off the coast of Mersing which are vital to the project, will start tomorrow and completed within 36 months.
"I expect the first hotel under the Mersing Laguna project to be completed within 24 months," he told reporters after the signing of agreements with four partners of Mersing Laguna here, today.
Universities and industries were urged to collaborate to produce highly skilled workforce to help transform Malaysia into a high income nation.
Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said by working together, they would better understand each other’s requirements.
“Industries have to engage more often with universities and technical institutions and tell them the right kind of workforce needed,” he said.
Mukhriz said on the other hand, universities and technical institutions must also offer right disciplines or training courses to cater for needs from companies and industries.