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The State’s Largest Historic Renovation in Downtown Dallas Lights Up

Ten years ago, the vertical white lights on the former First National Bank tower were turned off after the building closed. Now the 55-year-old Elm Street landmark is being transformed as part of a $450 million redevelopment project. Award-winning real estate firm Todd Interests is developing office spaces for tenants like Downtown Dallas Inc., as well as luxury apartments, restaurants, retail, and a 219-room Thompson Hotel. Renamed The National, the 52-story high-rise is scheduled to open by the end of this year. The lights have already been turned back on.

This is one of the state’s largest adaptive reuse projects, and DDI will stake its claim on a bottom floor space that will be visible from the street. This has for years been downtown’s largest vacant block, a monstrous building covered in fencing whose developers just couldn’t get the financing to make what they called the Drever a reality. But then came Todd Interests, who picked up the baton and took the project forward. It was acquired in 2016 by Drever Capital Management, which remained as an advisory role once Shawn and Philip Todd came to the table in May of last year. They had to work quickly: work has to wrap by the end of the year in order for it to qualify for $100 million in tax credits.

Philip Todd once told D CEO that this project was “the most complicated and challenging adaptive reuse” project that he’d ever worked on. That would help explain why—in the public’s eye, at least—it has sat virtually untouched for years, a giant gash in the middle of a downtown that was thriving pre-pandemic. The 318 luxury apartments will include the 48th floor, making them the highest address in downtown.

What we see now is the largest historic renovation in Texas. That

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Malaysia’s largest home-improvement retailer seeks $361m in IPO

KUALA LUMPUR — Home-improvement store operator Mr DIY Group of Malaysia opened its initial public offering for bids, aiming to raise 1.5 billion ringgit ($360.6 million) in what would be the country’s largest stock market listing since 2017.

The company on Tuesday unveiled its prospectus, an important step to listing on the main board of Kuala Lumpur’s stock exchange, known as Bursa Malaysia. Mr DIY’s first two attempts at listing — late last year and the first half of 2020 — were shelved amid the coronavirus pandemic.

The offering would give the company a market capitalization of 10 billion ringgit post-IPO, CEO Adrian Ong said at an online news conference after the prospectus was released.

Mr DIY is targeting a retail price of 1.60 ringgit a share, with the institutional offering consisting of 779.95 million shares and 161.53 million shares allocated for the retail offering.

“We today have a 29% market share of the overall home-improvement retail market in Malaysia,” he said, adding that the company has been growing faster than the country’s annual industry average of 10.2%.

“About 300 million ringgit [of the IPO’s proceeds] would be mainly used to repay existing debts,” Ong added.

The offering would be the largest in Malaysia since chemicals producer Lotte Chemical Titan raised about 3.77 billion ringgit in July 2017.

Since Mr DIY opened its first location in 2005, the company has fast grown into Malaysia’s largest home-improvement retailer, with 674 stores across the country and four stores in Brunei. In addition to the Mr DIY core brand, the company also operates two other store chains: Mr Toy, which sells affordable toys, and Mr Dollar, which offers a fixed-price point model.

“We are adding stores at a very fast pace, which suggests that we have confidence in the business,” Ong said. The

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Sinopec becomes Saudi Aramco’s largest onshore drilling contractor

RIYADH — China Petroleum & Chemical Corporation (Sinopec), China’s leading energy and chemical company and now Saudi Aramco’s largest onshore drilling contractor, congratulated the Kingdom of Saudi Arabia on its 90th National Day and expresses support for the Saudi Vision 2030.

With firm commitment to responsibility, integrity, excellence, innovation and benefit for all parties, Sinopec’s business operations in Saudi Arabia mainly cover the exploration and development of oil and gas fields, oil field services, refining and chemical engineering services, international trade of crude oil, refined oil, petroleum and chemical equipment, as well as investments in refining and chemical projects and sales of chemical products, lubricants and catalysts.

The petrochemical trade makes up 50 percent of total bilateral trade volume between China and Saudi Arabia, contributing to the economic development of both countries as well as serving their respective societies. Sinopec established its Middle East Center for Research and Development in Saudi Arabia in 2016 to enhance cooperation and the exchange of resources, services and learning.

Sinopec has achieved positive cooperation with petroleum and chemical companies in Saudi Arabia. Including the establishment of the Sinopec SenMei (Fujian) Petroleum Company Limited with its Saudi counterparts, the largest refined oil supplier in China’s Fujian Province, as well as establishing Fujian Refining and Petrochemical Company Limited (FREP).

Sinopec, the first Chinese company to enter the Saudi Arabian oil field service market, regards localization as the key to its strategies and actively to fulfill social responsibilities.

The company seeks to provide the largest possible number of job opportunities for young people in Saudi Arabia. The Yanbu Aramco Sinopec Refining Company (YASREF) is one of the largest Chinese investment projects in Saudi Arabia with total investment amounts to $8.6 billion, and a joint venture that promoted bilateral cooperation between China and Saudi Arabia to a higher
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Grizzly bear kills hunter in largest US national park in first-of-its-kind attack

A grizzly bear mauled and killed a man at an Alaska park Sunday, the National Park Service confirmed.

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The fatal attack occurred in the Wrangell-St. Elias National Park and Preserve, America’s largest national park, while the man was on a 10-day moose hunt with a friend.

The friend wasn’t injured in the attack.

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“The incident is the first known bear mauling fatality recorded in Wrangell-St. Elias National Park and Preserve since the park was established in 1980,” the NPS wrote in a statement. “Visitors are encouraged to be Bear Aware when traveling in the backcountry and take precautions such as carrying bear spray and using Bear Resistant Food Containers.”

Austin Pfeiffer, 22, of Mansfield, Ohio, was the victim of the attack, reports the Mansfield News Journal, part of the USA TODAY Network, citing the Mansfield Police Department.

Pfeiffer was a job site foreman with Dolce’s Tree Service and a skilled tree climber, lift operator and all around handyman, according to his employer’s website.

At 13.2 million acres (20,625 square miles), Wrangell-St. Elias is the same size as Yellowstone National Park, Yosemite National Park and the country of Switzerland combined.

Fatal bear attacks are rare. According to Alaska News Source, on average, there are 2.56 bear attack deaths in the continent of North America each year.

Contributing: Lou Whitmire, Mansfield News Journal

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Bear kills hunter at Wrangell-St. Elias, largest US national park

A grizzly bear mauled and killed a man at an Alaska park Sunday, the National Park Service confirmed.

The fatal attack occurred in the Wrangell-St. Elias National Park and Preserve, America’s largest national park, while the man was on a 10-day moose hunt with a friend.

The friend wasn’t injured in the attack.

“The incident is the first known bear mauling fatality recorded in Wrangell-St. Elias National Park and Preserve since the park was established in 1980,” the NPS wrote in a statement. “Visitors are encouraged to be Bear Aware when traveling in the backcountry and take precautions such as carrying bear spray and using Bear Resistant Food Containers.”

Austin Pfeiffer, 22, of Mansfield, Ohio, was the victim of the attack, reports the Mansfield News Journal, part of the USA TODAY Network, citing the Mansfield Police Department.

Pfeiffer was a job site foreman with Dolce’s Tree Service and a skilled tree climber, lift operator and all around handyman, according to his employer’s website.

At 13.2 million acres (20,625 square miles), Wrangell-St. Elias is the same size as Yellowstone National Park, Yosemite National Park and the country of Switzerland combined.

Fatal bear attacks are rare. According to Alaska News Source, on average, there are 2.56 bear attack deaths in the continent of North America each year.

Contributing: Lou Whitmire, Mansfield News Journal

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