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Reports Malaysia

Malaysia stock market and companies daily report (June 23, 2014)

June 23, 2014, Monday, 05:55 GMT | 00:55 EST | 09:25 IST | 11:55 SGT
Contributed by Shares Investment

Harvest Court Industries To Acquire Leasehold Property

- Harvest Court Industries has agreed to acquire a leasehold property comprising of four units of warehouse and two units of Tenaga Nasional station for RM7.5 million.

- The property, measuring 40,480 square metres, is located in the district of Jempol, Negeri Sembilan, Malaysia.

- The proposed acquisition is expected to be completed by 3Q14.

Significance: The property is intended to be used by Harvest Court as a factory and warehouse to cater for any future expansion of its timber operations.

IHH Keen On Expansion

- IHH Healthcare’s expansion would consist of both brownfield and greenfield investments. The latter will be spurred by countries that have significant demand.

- The firm currently operates in Singapore, Malaysia and Turkey and will be looking to increase their capacity. The expansion into other countries includes India, China, Eastern Europe, and the Middle East and North Africa region.

- Presently, IHH houses over 6,000 licensed beds across 37 hospitals as well as medical centers, clinics and ancillary healthcare business.

Significance: The firm is looking to add another 3,000 beds in the pipeline, costing RM3.4 billion, by 2017 through new developments and expansion of existing facilities.

OSK To Launch RM3b Worth Of Properties In Sugai Petani

- OSK Property Holdings, via its wholly owned subsidiary OSK Properties, aims to launch RM3 billion worth of properties built on a 405 hectare site in Sungai Petani, which is part of the Bandar Puteri Jaya project, within the next 10 to 15 years.

- OSK Properties announced that some 5,000 units of landed, high-rise and commercial properties, which include a shopping mall, landed and high and medium end condominiums.

- The shopping mall, scheduled for completion in 2016, will have 1 million square feet of gross built-up area.

Significance: To date, OSK has developed 7000 units of residential and commercial properties worth RM1.2 billion since 1999 on the Bandar Puteri Jaya project.