KUALA LUMPUR (May 23): Axis Real Estate Investment Trust (KL:AXREIT), which mainly manages offices and warehouses, said on Thursday it is acquiring two automotive service centres worth RM125 million. Under the purchase agreements, the trust will then lease the properties back to the seller, Cycle & Carriage Bintang Bhd, Axis said in an exchange filing….
Read MoreKUALA LUMPUR (May 23): KLCCP Stapled Group (KL:KLCC) registered a 4.1% increase in net profit for the first quarter ended March 31, 2024 (1QFY2024) to RM188.03 million from RM180.56 million a year earlier, on the back of steady performance across its business segments. The group — comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real…
Read MoreKUALA LUMPUR (May 23): Radium Development Bhd today announced that it generated revenue of RM27.53 million in 1QFYE2024 and reported a profit after tax (PAT) of RM2.33 million for the quarter. The group maintained a gross gearing ratio of 0.03 times. Meanwhile, RM109.3 million from the group’s initial public offering (IPO) proceeds have been allocated for…
Read MoreKUALA LUMPUR (May 23): Public Bank Bhd (KL:PBBANK) has lost a case against a house buyer, who sued the bank for terminating a loan facility agreement after the first disbursement. The court found that the bank failed to provide documents of purported falsified supporting documents and claims that the customer inflated his income, which had…
Read MoreBy Joseph Wong Zero waste refers to a philosophy and lifestyle that aims to minimise the amount of waste generated by individuals, businesses and society as a whole. The philosophy applies to the real estate industry as well as any industry that generates waste. The goal is based on the 5Rs, namely reduce, reuse, recycle,…
Read MoreBy Joseph Wong Many Malaysians invest in properties abroad – from the one-off apartments near the universities that their children are studying to the hardcore real estate investors who reap foreign revenue as income sources. And with as many as 1.86 million Malaysians working abroad, buying a home in those countries is a given. But…
Read MoreKUALA LUMPUR (May 23): Shares of Sime Darby Property Bhd (KL:SIMEPROP) climbed to its highest in nearly six years as analysts scrambled to raise their forecasts after the developer reported better-than-expected results. SimeProp rose as much as 5.6% or six sen to RM1.13, its highest since August 2018. The stock was trading at RM1.11, valuing…
Read MoreAn artist’s impression of Eaton Park in Ho Chi Minh city. PETALING JAYA: Property developer Gamuda Land celebrated milestones in its expansion to Vietnam, where the first two towers of Eaton Park were fully taken up during the preview over the weekend, while the Elysian apartment achieved a take-up rate of 93% for two out…
Read MoreKUALA LUMPUR (May 21): Sime Darby Property Bhd (KL:SIMEPROP) reported that its first quarter net profit doubled year-on-year, as the property developer saw its quarterly revenue hit a record high on higher sales and successful project executions. The group’s net profit for the three months ended March 31, 2024 (1QFY2024) jumped 103.7% to RM123.58 million…
Read MoreKUALA LUMPUR (May 22): LBS Bina Group Bhd’s (KL:LBS) net profit rose by a marginal 0.11% to RM30.53 million in the first quarter ended March 31, 2024 (1QFY2024), from RM30.5 million a year earlier, helped by increased contribution from its property development business. Earnings per share increased to 1.49 sen from 1.48 sen. Quarterly revenue,…
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