Damansara Realty Bhd (DBhd) has received the Economic Planning Unit’s (EPU) approval for a land acquisition which is part of its proposed RM141.5 million settlement agreement with Johor Corporation (JCorp), allowing it to reduce its net current liabilities and return its balance sheet to health.

The integrated facilities management (IFM), project management consultancy (PMC) and property group announced that its associate company DAC Properties received the EPU’s approval on 22 November 2017, and has completed the acquisition of 53.14 acres of land for RM130.3 million from JCorp, the Johor state investment arm.

Lay Hong Berhad,a Bursa Malaysia Main Market listed integrated poultry company, registered a net profit of RM12.2 million for its second quarter financial year ending March 31, 2018 (“2QFY2018”), representing an increase of four times from RM3.5 million in the corresponding period last year. Its revenue stood at RM204.6 million, a 20% increase as compared to RM170.9 million a year ago.

A filing to Bursa Malaysia shows that the increase of revenue and net profit for its year-on-year results for the integrated livestock farming division was mainly due to higher quantity of eggs sold, as well as higher quantity and price of processed frozen products and pasteurized liquid eggs sold in 2QFY2018. For the retail supermarket division, the result was attributable to the opening of 3 additional outlets in Pitas, Ranau and Tambunan.

Axis REIT Managers Berhad (ARMB), the Manager of Malaysia’s largest Islamic Business Space and Industrial Real Estate Investment Trust, as well as Malaysia’s first REIT to be listed on Bursa Malaysia Securities Berhad; the Axis Real Estate Investment Trust (Axis-REIT) announced that RHB Trustees Berhad, the Trustee of Axis-REIT on behalf of Axis-REIT has on 1 November 2017, entered into a sub-lease agreement with Malaysia Airports Holdings Berhad (MAHB) to lease 7.02 acres of vacant land in Subang for RM19,876,428 for a lease tenure of 49 years expiring on 30 December 2066.

The Project Land is located within the proposed Malaysia International Aerospace Centre (MIAC) Technology Park, Sultan Abdul Aziz Shah Airport, Subang. It is situated at the western side of Jalan Masjid, Off Jalan Lapangan Terbang Subang, Section U3, Subang, Selangor. The Sultan Abdul Aziz Shah Airport is approximately three kilometres away from the Project Land.