KUALA LUMPUR (Dec 15): Berjaya Land Bhd (BLand) is buying freehold land in Bentong, Pahang from Tan Sri Vincent Tan and his family for RM38.45 million, or RM10 per square foot, in cash.
In a filing with Bursa Malaysia, BLand said its wholly owned subsidiary Berjaya Engineering Construction Sdn Bhd on Dec 14 entered into a sale and purchase agreement with Deru Klasik Sdn Bhd for the land acquisition.
Berjaya boss Tan is the controlling shareholder of Deru Klasik with a 75% stake, according to the filing.
The present directors of Deru Klasik are Chryseis Tan Sheik Ling, Hew Chee Wai and Tan Choon Lui. Chryseis, daughter of Vincent, owns a 5% stake in Deru Klasik. She is also an executive director and a shareholder of BLand.
Tuesday, 15 Dec 2020 10:48 PM MYT
KUALA LUMPUR, Dec 15 Berjaya Land Bhd’s wholly-owned subsidiary, Berjaya Engineering Construction Sdn Bhd (BEC) has entered into a sale and purchase agreement with Deru Klasik Sdn Bhd to acquire a parcel of freehold in Bentong, Pahang for RM38.45 million.
In a filing with Bursa Malaysia today, Berjaya Land said BEC has proposed to undertake a residential development project on the land, measuring about 3.84 million sq ft, consisting of terraced houses to be built over three years.
“Based on the preliminary plan of the proposed development, the estimated gross development cost and gross development value for the proposed development are RM250.81 million and RM380.20 million respectively,” it said.
Berjaya Land proposes to buy 88.26 acres of freehold land in Pahang thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Dec 10): Berjaya Land Bhd (BLand), controlled by tycoon Tan Sri Vincent Tan, has continued to accumulate shares in convenience store chain operator 7-Eleven Malaysia Holdings Bhd over the past three months.
In a filing with Bursa Malaysia today, BLand said its wholly-owned subsidiary Nural Enterprise Sdn Bhd acquired a total of 8.22 million shares, representing about 0.73% equity interest in 7-Eleven Malaysia in the open market between Sept 11 and Dec 8.
The shares were acquired for a total cash consideration of RM10.96 million or an average of RM1.33 per share.
As a result, BLand and its subsidiaries now have a 5.28% stake in 7-Eleven Malaysia.
KUALA LUMPUR (Dec 10): Based on corporate announcements and news flow today, stocks in focus for Friday (Dec 11) may include: Cymao Holdings Bhd, AirAsia Group Bhd, Bermaz Auto Bhd, Poh Kong Holdings Bhd, BIMB Holdings Bhd, Top Glove Corp Bhd, UMW Holdings Bhd, KUB Malaysia Bhd, Berjaya Land Bhd (BLand) and 7-Eleven Malaysia Holdings Bhd.
In response to Bursa Malaysia s unusual market activity query yesterday,
Cymao Holdings Bhd said the group is in the final stage of discussion with several parties on a potential new viable business venture to reduce the plywood maker s reliance on its core business.
Cymao said in light of the plywood industry remaining challenging, the group has been exploring new business opportunities to expand its core business or diversify its businesses to reduce reliance on the existing core business, as well as to expand the company s earnings base.