English
MSWG Weekly Newsletter 30 Nov 2018 (English)
30.11.2018
MSWG’S WATCHLIST
KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT")
PROPOSED ACQUISITION OF A FOUR-STOREY BUILDING KNOWN AS AEON MALL KINTA CITY SHOPPING CENTRE FOR A CASH PURCHASE CONSIDERATION OF RM208,000,000 (“PROPOSED ACQUISITION”)
Reference is made to the announcement on 28 August 2018 in relation to the Proposed Acquisition (“Prior Announcement”). Unless otherwise stated, the defined terms used herein shall have the same meanings as given to them in the Prior Announcement.
CIMB Investment Bank Berhad, on behalf of the Board of Directors (“Board”) of KIP REIT Management Sdn Bhd ("Manager"), wishes to announce that Pacific Trustees Berhad (as trustee of KIP REIT) (“Purchaser”) had on 30 November 2018 entered into a conditional sale and purchase agreement (“SPA”) with Kinta City Sdn Bhd (“Vendor”), for the Proposed Acquisition involving a freehold land held under No. Geran 72619, Lot 320549, Mukim Hulu Kinta, Daerah Kinta, Negeri Perak, measuring approximately 60,230 square meters in area (“Land”) together with a four-storey building known as Aeon Mall Kinta City Shopping Centre (“Building”) and facilities constructed thereon, and having an address at 2, Jalan Teh Lean Swee, Taman Ipoh Selatan, 31400 Ipoh, Perak and all fixtures, fittings, plants, machinery and equipment attached thereto and/or installed therein that are owned by the Vendor (excluding any fixtures, fittings, machinery and equipment owned by Aeon Co. (M) Bhd (“Lessee”) in the said Building and facilities, and including but not limited to, furniture, cabinets, air conditioning equipment, light fixtures, CCTV and security equipment, improvements, and such other items and materials used in and/or for the property), (collectively the “Property”) at a cash purchase consideration of RM208,000,000 ("Purchase Consideration").
MSWG Weekly Newsletter 05 Nov 2018 (English)
05.11.2048
MESSAGE FROM THE CEO
BUDGET 2019
Another Exchange in the Making
Embedded in the Finance Minister’s delivery of the Budget last Friday is a peer-to-peer (P2P) home financing exchange platform to facilitate home ownership in Malaysia. This is expected to be a private sector-driven “Property Crowdfunding” platform. The SC will regulate these exchange platforms under the peer-to-peer (P2P) financing framework.
The Edge Media Group’s subsidiary, Edge Prop Sdn Bhd, has taken the initiative to launch a property portal called Fund-MyHome.com.
For the time being, it is envisaged that only institutional investors will participate in the exchange platform. Eventually, members of the public can also participate as individual investors, subject to the approval of the SC.
No Capital Gains Tax on Share Dealings
Shareholders can give a sigh of relief as there is no capital gains tax on share dealings. We had commented earlier that such a move would dampen an already damp stock exchange.
Weekly Watch Nov 30, 2018
Weekly Watch Nov 27 - 28, 2018
Weekly Watch Nov 28 - 29, 2018
Weekly Watch Nov 26 - 30, 2018
Weekly Watch Nov 26 - 30, 2018
2nd Asean Corporate Governance Awards Ceremony 2018
MSWG Weekly Newsletter 23 November 2018 (English)
23.11.2018
MESSAGE FROM THE CEO
Malaysian PLCs Do Well at ASEAN CG Awards
MSWG had the pleasure of hosting the 2nd ASEAN Corporate Governance Awards Ceremony on 21st November 2018 at the Kuala Lumpur Convention Centre. The event was attended by about 670 guests including many of our friends from our neighbouring ASEAN countries. It was certainly a recognition event, filled with pomp, to be cherished.
The Guest of Honour was YB Dato’ IR Haji Amiruddin Hamzah, the Deputy Minister of Finance.
The occasion was also graced by the presence of the Chairman of the Securities Commission Malaysia, YBhg Datuk Syed Zaid Albar, the Chairman of the ASEAN Capital Markets Forum, Mr Rapee Suchritakul and the Chairman of MSWG, YBhg Tan Sri Dato’ Seri Dr Sulaiman Mahbob.
The ASEAN Corporate Governance Awards project was initiated by the ASEAN Capital Markets Forum, with the support of the Asian Development Bank, to establish a common governance framework across the region as well as to raise the profile of ASEAN PLCs.