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News in brief: June 23, 2022

23/06/2022 10:06 PM

SMTRACK BHD's wholly-owned subsidiary, SMT Turbojet Resources Sdn Bhd, has entered into a project management consultancy agreement with Menara Rezeki Properties Sdn Bhd (MRPSB) to assist the latter in performing services based on the scope of work for a fee of RM80 million.

In a filing with Bursa Malaysia today, SMTrack said the redevelopment of a project in Kampong Baru will commence from the date of written confirmation from MRPSB that the commercial land has been transferred in its name.

The company said the rationale for the agreement was to establish business integration for diversification into other activities to enhance its revenue.




PERAK TRANSIT BHD's (PTrans) 99.96 per cent-owned subsidiary, The Combined Bus Services Sdn Bhd, has entered into a tenancy agreement with TF Value-Mart Sdn Bhd (tenant) to grant a tenancy of the demised premises to the tenant to operate a supermarket business in accordance with the terms and conditions.

In a filing with Bursa Malaysia, PTrans said the initial tenancy term is three years commencing from the tenancy commencement date, followed by four renewal period options for further terms of three years each upon the expiry of each three-year term.

"The rental for the initial term of three years will be increased by eight per cent for each renewal period," it added.

The demised premises is located on the ground floor of an integrated public transportation terminal, Bidor Sentral, to be constructed on a piece of land in Bidor, Perak with a built-up area of some 52,000 square feet together with not less than 100 dedicated car parks for use by the tenant and its customers.




FARLIM GROUP (MALAYSIA) BHD's wholly-owned subsidiary, Bandar Subang Sdn Bhd (BSSB), is disposing of its entire 100 per cent stake in Farlim Trading (Shandong) Co. Ltd to Summer Salute Sdn Bhd (SSSB) for RM11.5 million cash.

In a filing with Bursa Malaysia today, Farlim Group said the disposal was part of the group’s strategy to divest its overseas investments so as to redeploy the resources in its ongoing and future property development and related activities in Malaysia.

"Barring any unforeseen circumstances, the disposal is expected to be completed within three months from the date of signing of the share sale agreement between BSSB and SSSB on June 23, 2022," it added.





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