Posts Tagged ‘IGB Corp Bhd’
November 10, 2016 by iskandarinsider
IGB Corp Bhd Maintain outperform with a target price (TP) of RM4.80: A meeting with management revealed that with the recent noncore asset disposal, IGB Corp Bhd has raised about RM1 billion in dry powder for its new assets, especially Mid Valley Southkey Megamall and its proposed mixed developments in London and Bangkok.
Ongoing projects, namely Southpoint Tower in Mid Valley City and Mid Valley Southkey Megamall, are on track to be completed by the first half of 2017 (1H17) and second half of 2018 (2H18) respectively.
June 19, 2013 by iskandarinsider2
KUALA LUMPUR: IGB Corp Bhd expects to ink its joint-venture agreement with Selia Pantai Sdn Bhd for the RM6bil Southkey Megamall in Johor’s Iskandar Malaysia within the next 30 days.
The deal to develop 15ha of leasehold land in Plentong, Johor Baru, into a mix of offices, retail outlets and residences had been announced in March last year, but its signing was delayed due to general election-related uncertainties, company officials said.
The project, which is still at the design stage, had received its development order, they added.
The plan was to replicate IGB’s successful Mid Valley City township down south, with a mall measuring 1.5 million sq ft, hotels, upmarket homes and commercial components.
Southkey, IGB’s first major project in Johor, could commence construction works by the middle of this year and be completed by 2018 or 2019, the company said in its 2012 annual report.
Group managing director Robert Tan Chung Meng told reporters after the company’s AGM yesterday the venture could prove more difficult, given the need to attract discerning Singaporean shoppers.