Minply signs MOU to develop project

KUALA LUMPUR: Minply Holdings (M) Bhd’s wholly-owned subsidiary Timberion Sdn Bhd has signed a memorandum of understanding with Elitprop Sdn Bhd to develop a housing project in Gemas, Negri Sembilan.

The project will have a a gross development value of RM192mil.

In a filing with Bursa Malaysia yesterday, Minply said the housing project comprised 1,586 single-storey terrace houses.

The development is expected to generate a profit of RM30mil over six years.

Minply said Timberion would undertake to submit the applications for the project and then construct and complete it at the company’s own cost and expense.

Under the sharing ratio, Timberion’s stake is 75% of all units developed and the remaining 25% will go to Elitprop.

By The Star

Mah Sing: Strong response to projects

MAH SING GROUP Bhd’s Perdana Residence 2 in Selayang and the Garden Residence in Cyberjaya, are expected to be officially launched in the first half of this year.

The response for the projects has been overwhelming to date, said its group managing director, Tan Sri Leong Hoy Kum.

The response indicates that we have planned the right product mix,” he added, in a statement in Kuala Lumpur yesterday.

By Bernama

Buyers flock to Mah Sing projects

KUALA LUMPUR: Mah Sing Group Bhd’s first residential projects for the year proved to be a hit with potential buyers queuing hours before the start of the project previews that end on Jan 17.

In a statement yesterday, Mah Sing said Perdana Residence 2 in Selayang and Garden Residence in Cyberjaya were its award-winning residence series and expected to be launched in the first half of this year.

By The Star