The top German luxury car brands are taking their longstanding showdown to Chinese showrooms. Mercedes, the best-known brand, has found itself playing catch-up behind BMW and Audi.
KUALA LUMPUR, Aug 24 Conglomerate Hap Seng Consolidated Bhd’s net profit for the second quarter (2Q) ended June 30, 2023, spiked to RM661.26 million due to a gain arising.
KUALA LUMPUR (Jan 12): Hap Seng Consolidated Bhd is buying three adjoining parcels of industrial land with buildings in Labuan for a total of RM205.25 million.
“The proposed acquisition in the Federal Territory of Labuan represents a long-term strategic investment opportunity of a servicing centre supporting the offshore oil and gas industry in the region,” said Hap Seng Consolidated in a filing to Bursa Malaysia yesterday.
The land, with a lease tenure of 20 years and expiring on March 31, 2032, has a total rental income per month of RM537,200.
Based on the said purchase consideration and rental income of both the said lands, of which 100% of the total land area has been leased out, and the said buildings, of which 65% of the total net lettable area has been leased out, the current average gross yield is 5.1% per annum.