BINASTRA SECURES RM236 MILLION CONTRACT FOR MAJOR DEVELOPMENT PROJECT IN PETALING JAYA
Binastra Corporation Berhad (“Binastra”) has secured a RM235.5 million contract to develop a 39-storey serviced apartment in Sentral Damansara, Petaling Jaya, featuring 662 units, a rooftop “Sky Garden,” and a 4-level parking podium. The project is expected to be completed in 40 months.
Yinson divests offshore marine business to Icon Offshore
Yinson Holdings Berhad (“Yinson”) will divest its offshore marine business, Regulus Offshore, to Icon Offshore Berhad (“ICON”) for RM160 million via new ICON shares at RM0.88 each. This strategic move, subject to shareholder and regulatory approvals, will enable Yinson to focus on its FPSO and energy transition businesses while retaining a stake in ICON for future growth opportunities.
SKYWORLD DEVELOPMENT SIGNS MOU FOR SECOND PROJECT IN VIETNAM
SkyWorld Development Berhad (“SkyWorld Development”) announced its second venture in Vietnam through its subsidiary, SkyWorld Development (Vietnam) Company Limited. The company signed an MOU with SkyVenue Land Group to co-develop the remaining plots of the Guocoland Commercial Complex in Thuan An City, Binh Duong Province, Vietnam. The project includes two residential plots and a mixed-use tower, with plans to launch by Q4 2024.
KIP REIT EXPANDS INDUSTRIAL FOOTPRINT WITH 4 NEW ACQUISITIONS
KIP REIT, through Pacific Trustees Berhad, is set to acquire four strategic industrial properties in Malaysia for RM98.3 million. This move aligns with KIP REIT’s strategy to diversify its portfolio, ensuring stable rental yields.
BINASTRA SECURES RM155 MILLION MEMBRANE BIOLOGICAL REACTOR SEWAGE PLANT CONSTRUCTION CONTRACT
Binastra Corporation Berhad has secured a RM155.0 million contract! Its wholly owned subsidiary, Binastra Builders Sdn. Bhd. will design and build a membrane biological reactor (MBR) sewage treatment plant in Sri Hartamas, Kuala Lumpur, with a capacity of 160,000 Population Equivalents. The project is expected to be completed within 36 months.
AXIS-REIT ACQUIRES 2 PROPERTIES IN PELABUHAN KLANG FOR RM158.644 MILLION
Axis-REIT is acquiring two warehouse facilities in Pelabuhan Klang for RM158.644 million. These properties, with a total lettable area of 301,228.40 sq. ft., will be leased to MDSB for 9 years, starting with a monthly rental of RM570,179.03
T7 GLOBAL SECURES RM74.6 MILLION CONTRACT FROM MINDEF
T7 Global Berhad (“T7 Global”) announced that its subsidiary, T7 Kemuncak Sdn Bhd, has secured a RM74.6 million contract from the Ministry of Defence Malaysia (“MINDEF”). The contract involves supplying, delivering, testing, and commissioning airfield surveillance radar (ASR) and associated systems to the Royal Malaysian Air Force (RMAF) over the next five years.
KIP REIT FURTHER INFLATES ASSET PORTFOLIO WITH 3RD ACQUISITION FOR THE YEAR
Pacific Trustees Berhad, on behalf of KIP REIT, has entered into a conditional SPA to acquire a leasehold land in Gerik, Perak for RM14.8 million. This acquisition aligns with KIP REIT’s strategy to expand its retail asset portfolio, now totaling 12 assets. The property, currently leased by TF Value-Mart, will offer an expected annual yield of 7.5%, enhancing sustainable growth.
YXPM RECEIVES BURSA APPROVAL FOR MAIN MARKET TRANSFER
YX Precious Metals Bhd has received approval from Bursa Malaysia to transfer their listing from the ACE Market to the Main Market, under the consumer products and services sector. This is a significant achievement for the Group as they continue to grow and expand.
OCK SECURES 3 NEW DATA CENTRE CONTRACTS WORTH RM32.5 MILLON
OCK Group Berhad’s subsidiary, EI Power Technologies Sdn Bhd, has secured three new contracts worth RM32.5 million for data centre backup power solutions. This critical project will ensure uninterrupted operations during power outages, further strengthening their position as Malaysia’s leading telecommunications network solutions provider.
