KUALA LUMPUR (July 25): IGB Real Estate Investment Trust’s (KL:IGBREIT) net property income (NPI) for the second quarter ended June 30, 2024 (2QFY2024) rose 6.5% to RM109.48 million from RM102.79 million a year ago, due to higher rental income. Its revenue increased 5.95% to RM149.97 million from RM141.54 million, said IGB REIT, which owns the…
Read MoreKUALA LUMPUR (July 24): Gadang Holdings Bhd’s (KL:GADANG) net loss narrowed to RM9.37 million for its fourth quarter ended May 31, 2024 (4QFY2024) from RM27.7 million a year ago, as revenue expanded due to higher contributions from its construction division. Revenue rose 32% to RM150.5 million from RM114 million, according to the construction firm’s bourse…
Read MoreKUALA LUMPUR (July 24): CapitaLand Malaysia Trust (KL:CLMT) posted a 15.2% jump in its second quarter net property income from the same quarter a year ago, as most of the malls within its portfolio recorded higher revenue as a result of positive rental reversions and higher occupancies. CLMT’s net property income for the second quarter…
Read MoreKUALA LUMPUR (July 24): For the first time, Kuala Lumpur City Hall (DBKL) has gained worldwide recognition by receiving the Special Achievement in GIS (SAG) Award 2024 from ESRI Inc. at the ESRI Conference in San Diego, California, United States, on July 17. In a post on its official Facebook page today, DBKL said that…
Read MoreKUALA LUMPUR (July 25): Shares of Gadang Holdings Bhd (KL:GADANG) erased three weeks of gains after TA Securities, the sole research house covering the stock, downgraded the construction company to ‘sell’ on weaker-than-expected results. Gadang fell more than 5% to 47 sen, its lowest since July 2. The stock was trading at 45 sen at…
Read MoreVital housing decision tomorrow on whether ruling in Ang Ming Lee case has retrospective effect Central to the issue is the liquidated ascertained damages (LAD) claimed by the homebuyers, purportedly for late delivery of the property, despite being granted the EOT by the government before the SPA was signed. KUALA LUMPUR (July 25): Come Friday…
Read MoreKUALA LUMPUR (July 25): The Kuala Lumpur City Hall (DBKL) has implemented a periodic monitoring mechanism to evaluate high-risk and aged trees, particularly along the main roads of the capital. Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa stated that the assessment of high-risk trees is conducted in three stages, with the…
Read MoreMoney a big deterrent to sustainable refurbishment By Yanika Liew It comes as no surprise that of all the barriers to sustainable refurbishment of Malaysia’s existing buildings, most of it comes down to the financial factor. From the joint management bodies to the developers and the residents, maintenance and refurbishment is a never-ending problem for…
Read MoreKUALA LUMPUR (July 23): Axis Real Estate Investment Trust’s (KL:AXREIT) (Axis REIT) second quarter net property income (NPI) increased 12.86% to RM65.95 million from RM58.44 million a year ago, on the back of higher revenue. Revenue for the quarter ended June 30, 2024, rose 11.8% to RM76.53 million from RM68.45 million in the previous corresponding…
Read MoreKUALA LUMPUR (July 24): Hong Leong Investment Bank (HLIB) Research has maintained its ‘buy’ rating for Axis REIT (KL:AXREIT) at RM1.87, with a lower target price of RM2.03 (from RM2.04), saying the real estate investment trust’s quarterly core net profit of RM39.6 million, which was 1.1% lower quarter-on-quarter but 17.2% higher year-on-year, brought the sum…
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