KUALA LUMPUR: Dijaya Corporation Bhd has received the Securities Commission's approval to issue up to RM850mil nominal value of loan stocks.
It said on Tuesday the SC had vide its letter, dated May 11, approved the issuance of the redeemable convertible unsecured loan stocks (RCULs).
To recap, the RCULs are part of a corporate exercise wherein Dijaya had recently entered into agreements with several vendors for a proposed acquisition of 73 properties, comprising 49 parcels of land and 16 buildings, for RM949.9mil.
The proposed acquisition would be satisfied by cash totalling RM250mil, while the balance would be through the issuance of a 3% coupon RCULS, with a staggered conversion price range of RM1.30 to RM2.50 over a 10-year period.
Dijaya's major shareholder and group CEO Tan Sri Danny Tan had then said the amalgamation exercise was to consolidate all property development and investment activities into Dijaya, while avoiding businesses that are conflicting or competing with its interest.
The corporate exercise would see Dijaya's land bank increase to 870 acres and the group's total gross development value would increase to RM37bil.
In addition, the investment properties' net lettable areas for Dijaya would increase to 1.4 million sq ft. The additional properties were expected to generate a more stable and recurring income for Dijaya.
The parcels of land to be acquired were located within Kuala Lumpur, Johor Baru, Penang as well as in Kota Kinabalu and Sandakan.
By The Star
Tuesday, 15 May 2012
SP Setia arm buys land for RM186m
SP Setia Bhd's wholly-owned subsidiary, Intra Hillside Sdn Bhd, is acquiring 8.523 hectares of freehold land in the north-east Penang Island district of Timor Laut for RM185.645 million.
In a statement to Bursa Malaysia here today, the property developer said about 10 per cent of the purchase consideration amounting to RM18.564 million and the balance of RM167.081 million will be paid within three months of the sale and purchase agreement.
The proposed acquisition is expected to be completed during the second half of the financial year ending Oct 31, 2012.
The land acquisition would provide a rare opportunity for SP Setia to acquire land and expand its presence in the northern tip of Penang island.
By Bernama
In a statement to Bursa Malaysia here today, the property developer said about 10 per cent of the purchase consideration amounting to RM18.564 million and the balance of RM167.081 million will be paid within three months of the sale and purchase agreement.
The proposed acquisition is expected to be completed during the second half of the financial year ending Oct 31, 2012.
The land acquisition would provide a rare opportunity for SP Setia to acquire land and expand its presence in the northern tip of Penang island.
By Bernama
Malaysia draws foreign property buyers
Malaysia is slowly becoming a popular destination for foreign property buyers around the region, particularly Singaporeans, not only because of geographical reasons but also of its affordability.
Chief Executive Officer and Founder of PropertyGuru Group Steve Melhuish said there was an enormous amount of pressure among Singaporeans to look for affordable housing especially with government housing becoming increasingly out of reach.
Besides, with the hike in sellers' stamp duty to 16 per cent by the Singapore government recently, he said it had heavily impacted on foreign investors who wanted to buy additional properties.
"People are becoming less positive in the Singapore property market. About 26 per cent of the respondents we interviewed recently were considering investing in overseas properties and 35 per cent were actually eyeing Malaysian properties," he said today in conjunction with the rebranding of its Malaysian property portal, PropertyGuru.
The portal, formerly known as HomeGuru, has presence in ten countries including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Macau, Vietnam and China.
Melhuish said the average price of city apartments in Singapore were almost eight times higher than in Malaysia while rental yields in Malaysia were two to three times higher than its republic neighbour.
"A lot of expatriates working in Singapore are now living in Johor Bahru and travelling back and forth to the island everyday," he said.
Meanwhile, Group Country Manager John Paul Sta Maria said the rebranding of HomeGuru and its northern Malaysia portal, FullHouse, to PropertyGuru Malaysia, had many advantages for foreign property buyers considering the volume and frequency of buyers looking for Malaysian and Singapore properties online.
Since going live in January 2011, HomeGuru has achieved over 120,000 property listings and is used by 3,500 real estate agents.
To strengthen its rebranding exercise, the group will invest more than RM5 million on advertising and publicity to build its brand presence across the nation.
By Bernama
Chief Executive Officer and Founder of PropertyGuru Group Steve Melhuish said there was an enormous amount of pressure among Singaporeans to look for affordable housing especially with government housing becoming increasingly out of reach.
Besides, with the hike in sellers' stamp duty to 16 per cent by the Singapore government recently, he said it had heavily impacted on foreign investors who wanted to buy additional properties.
"People are becoming less positive in the Singapore property market. About 26 per cent of the respondents we interviewed recently were considering investing in overseas properties and 35 per cent were actually eyeing Malaysian properties," he said today in conjunction with the rebranding of its Malaysian property portal, PropertyGuru.
The portal, formerly known as HomeGuru, has presence in ten countries including offices in Singapore, Malaysia, Indonesia, Thailand and partnerships with leading property websites in Australia, Hong Kong, India, Macau, Vietnam and China.
Melhuish said the average price of city apartments in Singapore were almost eight times higher than in Malaysia while rental yields in Malaysia were two to three times higher than its republic neighbour.
"A lot of expatriates working in Singapore are now living in Johor Bahru and travelling back and forth to the island everyday," he said.
Meanwhile, Group Country Manager John Paul Sta Maria said the rebranding of HomeGuru and its northern Malaysia portal, FullHouse, to PropertyGuru Malaysia, had many advantages for foreign property buyers considering the volume and frequency of buyers looking for Malaysian and Singapore properties online.
Since going live in January 2011, HomeGuru has achieved over 120,000 property listings and is used by 3,500 real estate agents.
To strengthen its rebranding exercise, the group will invest more than RM5 million on advertising and publicity to build its brand presence across the nation.
By Bernama
Sunday, 13 May 2012
Proposal to sell Mid Valley, Gardens Malls
PETALING JAYA: KrisAssets Holdings Bhd has proposed to sell Mid Valley Megamall, the Gardens Mall and their related assets to its parent IGB Corp Bhd for RM4.6bil.
It said in a filing with the stock exchange that the disposal would be satisfied via cash and the issuance of 3.4 billion units in IGB REIT, the retail real estate investment trust that the latter plans to list on the Main Market of Bursa Malaysia.
It also proposed an offer for sale of 670 million consideration units by Mid Valley City Gardens Sdn Bhd via the initial public offering (IPO) of IGB REIT. The company added that it wanted to distribute 2.73 billion consideration units, as well as the remaining cash proceeds from the sale of the two properties and the IPO to its entitled shareholders at a date to be determined and announced later.
In addition, it has proposed amendments to the memorandum and articles of association of KrisAssets to alter the par value of its ordinary shares from RM1 to two sen to facilitate the proposed capital reduction and repayment.
It was earlier reported that IGB Corp, the country’s third largest property developer by market value, planned to raise some RM700mil through the REIT, which may be listed in the second half.IGB has appointed CIMB Investment Bank Bhd, Credit Suisse Group AG and Hong Leong Investment Bank Bhd as joint global coordinators for the initial public offering.
KrisAssets has established a new subsidiary, IGB REIT Management Sdn Bhd, to act as the proposed management company for the REIT. Following the completion of the proposed disposal of its two malls, KrisAssets will be a company without any business or operations.
The board has no intention of maintaining KrisAssets’ listing status.
Mattress Dimensions and Bed Sizes by Dormia
| Name | Mattress Sizes |
| Twin Mattress | 39" wide x 75" long |
| Twin XL Mattress | 39" wide x 80" long |
| Full Mattress | 54" wide x 75" long |
| Full XL Mattress | 54" wide x 80" long |
| Queen Mattress | 60" wide x 80" long |
| Cal-King Mattress | 72" wide x 84" long |
| King Mattress | 76" wide x 80" long |
| King Split Mattress | 76" wide x 80" long (Two Twin XL Mattresses) |
Metric to U.S. Conversion
For measuring purposes, the exact conversion is as follows:
For measuring purposes, the exact conversion is as follows:
- One inch is equal to exactly 2.54 centimeters.
- One foot is equal to 30.48 centimeters.
- One meter is equal to 39.37 inches.
'House buyers' rob, sexually assault property agent
The police are urging female sales persons, especially property agents, to be on high alert.
KUALA LUMPUR: A female real estate agent was tied-up, stripped naked and sexually assaulted by a couple who was ‘surveying’ a condominium with her.
The victim, in her 30s, was also beaten up and her Toyota Vios driven off while she was left locked in the condominium unit in Mont Kiara alone for hours.
A police source said that the woman’s husband had noticed that she had not returned from work on Thursday evening and had lodged a missing persons report in Kepong.
However, it was not until about 4am Friday that police received a public tip-off about a woman sobbing and pleading for her life.
Rushing to the scene, a police team broke through the unit’s door and found the property agent still tied up and without her clothing. She was then sent to hospital for treatment.
The victim told policemen that she was showing the suspects, a man and woman, the unit when they had suddenly locked the doors and attacked her. The woman suspect had apparently stood and watched while her male accomplice molested the victim.
“We’ve never heard of such a case and it may be a new modus operandi to target vulnerable lone female property agents. It is really despicable that they’ve not only robbed her but also sexually assaulted her,” said a police source.
The source urged the public, especially female saleswomen, to always be on the alert.
When contacted, Kuala Lumpur CID chief Ku Chin Wah denied knowledge of such a case. However, Brickfields district police chief Wan Abdul Bari Wan Abdul Khalid confirmed the incident, but said the case has been taken over by the Kuala Lumpur D11(Sexual Crimes and Child Abuse) Division.
This latest case comes at the heels of another missing persons report of 42-year-old female real estate agent last Wednesday, and who was found murdered at the Batu Dam in Ulu Yam yesterday.
According to news reports, Cheng Chai Moi had left her house in Jinjang early on Tuesday to meet a client over the sale of a house. Her car was first found and an hour later her body was found floating in the dam.
Initial police inspections showed she was strangled and had other bruises on her body.
[image from: teenlinkseattle.blogspot.com]
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