Strategic exercise: An artist’s impression of one of OSK Property’s projects called Pangaea in Cyberjaya that is due to be completed by 2020. OSK Holdings is offering RM1.95 per share for the remaining 67.45 million OSK Property shares not held by it and parties acting in concert.
OSK Holdings Bhd has served a notice of unconditional mandatory takeover offer to OSK Property Holdings Bhd and a conditional voluntary takeover offer to PJ Development Holdings Bhd (PJD) to acquire the shares in both property firms that it does not own.
OSK Holdings serves notice on takeover offers
Nexgram gets delivery order for RM1.15bil 'Angkasa Icon City"
Nexgram Holdings Bhd has obtained the development order from the Sepang Municipal Council for the RM1.15bil “Angkasa Icon City” project in Cyberjaya, according to a filing with Bursa Malaysia.
Nexgram’s subsidiaries – Nexgram Land Sdn Bhd and Nextnation Datacity Sdn Bhd – had entered into an off-take-cum-sale and purchase agreement with MyAngkasa Bina Sdn Bhd last December.
1MDB's KL Bandar Malaysia project eyed by local and foreign developers
Several top local and foreign developers who have projects in Malaysia, have made known their interest in 1Malaysia Development Bhd’s (1MDB) Bandar Malaysia project here.
A statement from transaction adviser CH Williams Talhar & Wong said they received “strong interest”, with some “40 parties, including some consortiums”, answering the project’s call for expression of interest after the July 10 deadline.
GuocoLand’s options open on monetising Damansara City Mall, talks with Lim fails
GuocoLand (Malaysia) Bhd is keeping its options open on how to monetise its Damansara City mall in Damansara Heights. The mall is located strategically at the massive development that is taking shape and which is seen as a viable alternative to Bangsar with two MRT stations being built at its vicinity.
Known as Damansara City Mall, or DC Mall, it is in its last lap of completion and is scheduled to be operational by the second quarter of next year. It has attracted tenancy of about 60%.
Sunway on track to achieve its goal
Property and construction group Sunway Bhd that has unbilled sales of RM2.5bil as of March, will adopt a wait-and-see approach and plan its property launches accordingly amid the soft property market.
Its property division managing director Sarena Cheah said due to the uncertain market sentiments and the revisions made to the Strata Title Act 1985, the group expected the upcoming property launches to be delayed.