Jiankun International Bhd’s unit has been slapped with a notice of demand from Fivestar Development (Puchong) Sdn Bhd for RM12.98 million linked to a joint venture agreement for the development of a residential property in Petaling, Selangor
Jiankun said FiveStar is seeking the payment of RM12.98 million in unpaid sums owed by Jiankun’s unit JKI Development Sdn Bhd pursuant to the joint venture agreement dated July 28, 2015, and a supplementary agreement dated Oct 5, 2016.
Jiankun Mazhong (JIANKUN, 8923, main board property stocks) has signed a joint development agreement (JDA) with Semenyih freehold land owner, NTL International Holdings (M) Sdn Bhd, to develop services with a total development value of 215.1 million ringgit apartment. This amount is three times the current market value of Jian Kun Ma Zhong.
Kum said the JDA was signed by its wholly-owned subsidiary Nagamas Bizworks Sdn Bhd.
According to JDA, Jiankun will bear the costs and expenses of project development and completion.
The RM215.1 million project comprises a 37-storey serviced apartment building with serviced apartment units, commercial units, affordable housing, amenities and a seven-storey car park.
Edwin Silvester Das, executive director and chief executive officer of Jian Kun Ma Zhong, said in a statement that the joint development is in line with the group's move to work with landowners to expand its property development business.
He said the joint development provided a win-win situation for NTL International and Jiankun Mazhong. This is also a testament to the group's capabilities and track record in the construction and property development industries.
“We believe that the proposal of serviced apartments with affordable housing units will provide the right mix to meet the growing demand for affordable housing.
“As the land is about 7.2 kilometers away from the Kajang MRT station, we believe it will also be attractive to middle-income households in and around the Kajang, Cyberjaya and Putrajaya areas.”
According to him, developing affordable housing can be costly given the rising cost of land ownership. However, joint development collaborations like this will help keep development costs down.
Jian Kun would benefit from the joint development agreement without having to build its land bank, he said. This will help boost the group's growth prospects as the property development industry recovers in the post-pandemic era.
8923 JIANKUN JIANKUN INTERNATIONAL BERHAD Additional Listing Announcement /Subdivision of Shares
1. Details of corporate proposalWhether the corporate proposal involves the issuance of new type and new classof securities? NTypes of corporate proposal : Private PlacementDetails of corporate proposal : Private Placement of up to 98,000,000 newordinary shares in Jiankun, representing approximately 40% of the total numberof issued shares of JiankunNo. of shares issued under this corporate proposal : 17,500,000Issue price per share ($$) : 0.1900Par Value ($$) (if applicable) : 0.000Latest issued share capital after the above corporate proposalIn the followingUnits : 342,886,869Issued Share Capital ($$) : Malaysian Ringgit (MYR) 68,619,967.010Listing Date : 14/12/2022Remarks:You are advised to read the entire contents of the announcement or attachment.To read the entire contents of the announcement or attachment, please accessthe Bursa website at http://www.bursamalaysia.com
Siapa Dato’ Sri Alex Teh Chee Teong? Apakah Alex Teh ada kaitan dengan Mafia korporat Victor Chin Boon Long yang kecoh diburu polis baru-baru ini? Mengapa Kumpulan pemanipulasi saham mafia korporat sangat berminat dengan KNM? Mengapa syarikat seperti SMtrack Bhd, CN Asia Bhd, Jiankun International Bhd, Key Alliance Bhd (milik Kenneth Vun) terlibat cubaan mengambil alih ini?. Sejauhmana kepandaian Alex Teh Chee Teong ini? Ini maklumatnya…
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gopal4ru
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Posted by gopal4ru > 2022-12-07 09:05 | Report Abuse
What is this.... Going down..