Company Announcement:TSR CAPITAL BERHAD

Proposed acquisition of a piece of freehold land measuring approximately 142 acres in area and being part of a piece of freehold land held measuring approximately 402.911 hectares in area under Title H.S.(D) 174814 PT 29074, Bandar Baru Enstek in the District of Seremban, State of Negeri Sembilan for a total cash consideration of approximately RM52.577 million.

Under the SPA, TML has agreed to acquire a piece of freehold land measuring approximately 142 acres in area (“142 Acre Land”), being part of a piece of freehold land measuring approximately 403 hectares in area held under Title H.S.(D) 174814 PT 29074, Bandar Baru Enstek in the District of Seremban, State of Negeri Sembilan (“Enstek Land”), for a total cash consideration of approximately RM52.577 million, or RM8.50 per square foot (“Purchase Consideration”) for the 142 Acre Land (“Proposed 142 Acre Land Acquisition”). Read more

(KLSE 13-2-2008)

Karambunai to sell properties

DEVELOPER and resort operator Karambunai Corp Bhd plans to sell 8,201.9 sq m of land complete with a four-storey office building, a warehouse and ancillary building in Petaling Jaya to PTB Horticulture Farm Sdn Bhd for RM12 million. Karambunai said that PTB, a unit of Petaling Tin Bhd, has made a notification to the Foreign Investment Committee for the proposed acquisition.

(New Straits Times 13-2-2008)

Benefits of Sarawak master plan wide

PETALING JAYA: The development master plan for Sarawak is expected to benefit not only Sarawak Energy Bhd but also several companies already established there and those originating from the Land of the Hornbills. The Sarawak Corridor of Renewable Energy (Score), which was launched on Monday, would be a major boost for companies such as Cahya Mata Sarawak Bhd (CMS), TRC Synergy Bhd, Hock Seng Lee Bhd, Naim Cendera Holdings Bhd, WCT Engineering Bhd and Loh & Loh Corp Bhd. "We are looking to participate in other developments in and around the Similajau area" - DATUK RICHARD CURTISAseambankers said in a research note yesterday that UBG Bhd and Putrajaya Perdana Bhd might also play significant roles following the proposed change in the core business direction for UBG and ownership of the latter. Read More

(The Star 13-2-2008)

Epic buys 8.7ha site in Terengganu

DEVELOPER Eastern Pacific Industrial Corp (EPIC) Bhd and its unit Pangkalan Bekalan Kemaman (PBK) Sdn Bhd have acquired 8.67ha land in Terengganu from Perbadanan Memajukan Iktisad Negeri Terengganu for RM6.32 million. In a statement to Bursa Malaysia, EPIC said the land has been earmarked for a new fabrication yard and for PBK's future expansion.

(New Straits Times 13-2-2008)

DRB-HICOM gets offer for mall

The S$150 million offer is unlikely to sway the management team to sell the Tekka Mall in Singapore's Little India anytime soon, sources say DRB-HICOM Bhd, the country's largest integrated automotive concern, has received a S$150 million (about RM344 million) offer for a shopping mall it owns in Singapore's Little India, people familiar with the matter said yesterday.The offer is some 50 per cent more than what it received in 2006. However, it is unlikely to sway the management team to sell the Singapore asset anytime soon."It is believed that DRB-HICOM intends to pump in between RM10 million and RM20 million to refurbish and rebrand the six-storey Tekka Mall, which sits on 6,332 sq m of commercial land in between Serangoon and Sungei Road.Read more

(New Straits Times 13-2-2008 )

Naim studying foreign JV offers

KUCHING: Naim Cendera Holdings Bhd is evaluating several joint venture offers for property developments or construction projects overseas. Deputy managing director Dr Sharifuddin Wahab said one proposal was from the government of a northern African nation for a RM300mil walk-up apartment project. “We are in discussion on this apartment project and expect a decision towards the third-quarter this year,” he told StarBiz yesterday. Read more

(The Star 13-2-2008)