KUALA LUMPUR (March 1): MCT Bhd has acquired a 3.9-acre plot of freehold land in Taman Desa here for RM64.65 million to undertake a condominium project with an estimated gross development value of RM500 million.

The acquisition of the freehold land from Sisi Tasik Sdn Bhd is the group's second land buy in Kuala Lumpur following the purchase of another parcel of land in Seputeh that was announced on Feb 20, the group said.

KUALA LUMPUR (Feb 20): MCT Bhd plans to fork out RM58 million cash to purchase a 1.57-acre parcel of land in Seputeh, Kuala Lumpur to serve as the site of a proposed residential highrise development carrying a gross development value (GDV) of RM320 million.

In a bourse filing on Monday, the property developer said the group’s wholly-owned subsidiary Ardent Residence Sdn Bhd (ARSB) inked an agreement with HPC Development Sdn Bhd for the acquisition.

KUALA LUMPUR (Aug 22): MCT Bhd has entered into an agreement to acquire 4.02 acres of leasehold commercial land in Bangi, Selangor for a total purchase consideration of RM31.5 million. 

PETALING JAYA (Dec 9): MCT Bhd has unveiled the phase 1 of Alira @ Metropark township, which has a gross development value of RM316.2 million.

Spanning 5.6 acres of freehold land within the 88-acre Metropark township in Subang Jaya, the phase 1 of Alira houses 467 high-rise apartments with built-up sizes ranging from 695 sq ft to 998 sq ft. The selling price starts from RM493,800.

Meanwhile, phase 1 of Alira also boasts 25 limited-edition low-rise villas with built-up size of 1,048 sq ft. It is priced from RM752,800.

Aetas Damansara in Tropicana Golf & Country Resort, Damansara, has achieved a take-up rate of 55% since its launch on Dec 15 last year. The high-end condominium is jointly developed by MCT Bhd and Philippine-based real estate firm Ayala Land, Inc.

KUALA LUMPUR (Feb 7): MCT Bhd said Philippine-listed Ayala Land Inc, its major shareholder via Regent Wise Investments Ltd (RWIL), intends to explore options to boost MCT's public shareholding spread.

As at Feb 5, MCT's public shareholding spread stood at 24.65%, according to MCT's Bursa Malaysia filing today. This does not comply with the Main Market listing requirements, which specified at least 25% of a company's listed shares must be in the hands of public shareholders.

KUALA LUMPUR (Jan 5): MCT Bhd has received notice of an unconditional take-over offer at 88 sen per share from Philippine-listed Ayala Land Inc, after the latter raised its stake in MCT to 50.19%.

This came after the share purchase agreement for the stake buy became unconditional today following the receipt of a waiver from Bursa Malaysia, MCT said in a stock exchange filing.

As such, Ayala, which is undertaking the takeover via its wholly-owned unit Regent Wise Investments LTd (RWIL), is obliged to extend the takeover offer.

KUALA LUMPUR (Dec 8): MCT Bhd is disposing of its wholly-owned unit which owns properties in the One City development in Subang Jaya, for RM7.5 million.

One City Development Sdn Bhd (OCD) — which MCT owns through wholly-owned MCT Consortium Bhd — is selling its 100% equity interest in One City Properties Sdn Bhd to Bras Ventures Bhd.

In a filing with Bursa Malaysia, MCT said the selling price was agreed between both parties after taking into consideration loss-making One City Properties' net asset value of RM3.5 million as at Nov 27.

KUALA LUMPUR: MCT Bhd’s new chief executive officer is confident that the group will continue to achieve growth despite the softer property market, as the sector still offers opportunities.

“When people tell me the property market here is still soft, I look around and see cranes all over the place constructing buildings,” said Jose Juan Z Jugo. “So, if the market is still not as strong as before, the point is that there is still growth.”