News in brief: Nov 12, 2021

IPMUDA BHD has received its shareholders’ nod for all five proposed corporate exercises including a special cash dividend of 30 sen and acquisition of the 100 per cent equity in Ultimate Forte Sdn Bhd, the operator and owner of Ohana Specialist hospital in Kuala Lumpur.

Executive chairman Datuk Beroz Nikmal Mirdin said the divestment of its existing properties is part of its goal to unlock the value of its property assets and channel the funds generated into new growth assets.

“With the corporate exercises, we have expanded the capital base of Ipmuda hence strengthening the group’s financial position and this will also create a greater opportunity for market players to participate further in Ipmuda, translating to an increase in share liquidity and an even more active market for us,” he said in a statement.

-- BERNAMA

HAILY GROUP BHD’S wholly owned subsidiary Haily Construction Sdn Bhd has accepted a letter of award from Nice Frontier Sdn Bhd for a community housing project in Kulai, Johor worth RM14.57 million.

In a statement, Haily’s executive director See Tin Hai said this latest award will increase the value of its projects to RM543.22 million, involving 22 building construction projects and two ongoing civil engineering-related construction projects.

“This latest contract shall keep us busy for the next 16 months and will contribute to the group’s earnings and net assets for the financial year ending Dec 31, 2022 and Dec 31, 2023,” he said.

-- BERNAMA

HYUNDAI-SIME DARBY MOTORS has seen the resale value of Hyundai models climb with increasing demand for Hyundai pre-owned cars over the last five years in Malaysia, in tandem with Hyundai gaining market share globally and in winning a series of global awards for its cars.

Managing director Low Yuan Lung said the perception that Hyundai cars have substantially lower resale value is wide off the mark as Hyundai car owners are now getting the good resale value that is competitive with Japanese makes.

“The difference in the selling price of a five-year-old Hyundai model in comparison with the likes of a Japanese model is marginal. The same goes for the depreciation value of both makes after five years which is about 10 per cent per year,” he said in a statement.

-- BERNAMA

AGROBANK has announced the winners of its two lucky draw campaigns -- Kempen Kita-Kita Aje 3 (KKA 3) and Program Sahabat Agro 2020, which lasted for 12 months between 2020 and 2021.

Covering president/chief executive officer Khadijah Iskandar said both campaigns were open for the bank’s new and existing customers nationwide, where participants had maintained a low deposit of RM500 through its AgroPrimaS product throughout the campaign period.

“Throughout the KKA 3 campaign period, we received participation from 73,908 accounts with a total accumulated deposit of RM173 million compared to 60,000 accounts participation the year before, while for Sahabat Agro (Save and Win Category), we received a participation of 44,788 accounts with the accumulated deposit of RM14.5 million,” she said.

-- BERNAMA

MALAYSIA PROPERTY EXPO (HOC-MAPEX), the Home Ownership Campaign (HOC) that is back after more than a year-long hiatus due to the COVID-19 pandemic, is held from Nov 12 to 14 at the Mid Valley Exhibition Centre in Kuala Lumpur.

In a statement, HOC-MAPEX chairman Datuk N.K. Tong said this is the last HOC-MAPEX event before the end of HOC on Dec 31, 2021 and will feature 12 developers and two agencies under the Ministry of Housing and Local Government -- the Housing and Strata Management Tribunal and the National Housing Department.

“Other than HOC incentives which include minimum 10 per cent discount on house prices as well as stamp duty waivers on the memorandum of transfer and loan agreement, developers may also offer attractive packages to assist potential homebuyers owning a dwelling of their own,” he added.

-- BERNAMA