Eco World Development Group Bhd (EcoWorld) and the Employees Provident Fund (EPF) will jointly develop Eco Grandeur and Eco Business Park V in Kuala Selangor, following a subscription and shareholders agreement (SSA) inked by both parties.

Commenting on SP Setia's performance, its president and chief executive officer Datuk Khor Chap Jen said the group is satisfied with the performance recorded during the quarter as it shows that the strategies SP Setia has adopted were effective.

"The consulting firm previously used a different alignment. Previously the length was 545 km, now it is 600km and this has not included the part from Gombak to Port Klang."

Penang Barisan Nasional chairman, Teng Chang Yeow said that if the state government had gazetted the island as a state park eight years ago, Penangites would not have lost every inch of the island to a private company.

Each bond will be priced at US$500,000 with an annual interest rate of 8% payable quarterly and are non-convertible.

Epic Residence is a luxury two block, 21-storey serviced apartment project with an estimated gross development value (GDV) of RM180 million.

Negeri Sembilan-based developer Matrix Concepts Holdings Bhd is on track to achieve its RM1 billion sales target as the company has recorded RM506.4 million sales in the first six months of its current financial year ending March 31, 2017.