News in brief

  • Business
  • Monday, 20 Jun 2005

SIME UEP DEVELOPMENT BHD will launch 72 units of its PutraPoint VI threestorey shop offices this week at the Putra Height township, about 30km from Kuala Lumpur. 

Managing director Jauhari Hamidi said the company was confident that the properties, located at Putra Heights' Putra Point town centre, would mirror the success of Sime UEP's Taipan Business Centre in USJ 10, where prices of the shoplots have at least doubled over the past few years. 

The shop offices came with a gross built-up area of 5,760 sq feet for a standard intermediate unit and were priced RM808,888 to RM828,888, it said in a statement. – Bernama 

DKLS Industries Bhd said it has agreed to sell its 51% stake in subsidiary Marina Sanctuary Resort Sdn Bhd to Urban Destiny Sdn Bhd for RM7.51mil following the rescinding of development rights agreement between Marina Sanctuary Resort and Marina Island Development Sdn Bhd. 

DKLS said in a statement the requirement of additional cash outlay by it under the development rights agreement and the comparatively higher level of uncertainty in receipt of payment had led to the rescission of the agreement. 

Under the plan, DKLS would not need to make any further capital contribution on its investment in Marina Sanctuary Resort, and would receive RM15.73mil by completion date, while the RM7mil in advances would also be fully repaid by June 2009, it said. 

It said these funds would be used as working capital for its projects and investments, locally and overseas, which would otherwise be funded by bank borrowings. – AFX-Asia 

IJM Corp Bhd said its unit IJM Construction Sdn Bhd has been awarded a RM116.5mil contract by SDB Properties Sdn Bhd for super structure works for a proposed condominium development. 

The construction period will be 22 months. – AFX-Asia 

WORLDWIDE HOLDINGS BHD plans to increase its land bank by acquiring 200ha, mainly in Selangor, this year. 

Group managing director Datuk Ibrahim Md Yusof said the current land bank of 155.2ha with gross book value of RM180mil would keep the company going only for the next two or three years. 

He said Worldwide had been in talks with several private landowners for proposed acquisitions to keep it busy for the next 10 years. – Bernama  

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