KUALA LUMPUR (Jan 29): Sunsuria Bhd is raising its stake in Bangsar Hill Park Development Sdn Bhd, the developer of the eight-block high-rise residential property Bangsar Hill Park, by another 33% for RM71.42 million cash. The related party transaction (RPT) will see Sunsuria raise its stake in the property developer to 84%, from 51% currently….
Read MoreYNH Property’s 87% crash between Jan 4 and Jan 22 wiped RM1.88 billion off its market capitalisation. PETALING JAYA: After plummeting as much as 87% since the start of the year, YNH Property Bhd has seen a tentative recovery in recent trading sessions. The property developer linked to tycoon Yu Kuan Chon jumped as much…
Read MoreKUALA LUMPUR (Jan 29): YNH Property has emerged as the second most active stock on Bursa Malaysia after Monday’s opening bell, with 97.6 million shares changing hands. It continued to pare losses, with its share price up by 14.5 sen or 20.28% to 86 sen from last week. Subsequently, the counter, linked to prominent investor…
Read MoreKUALA LUMPUR (Jan 29): Property subsectors including logistic warehouses, data centres and Grade A premium offices are expected to have the most positive growth this year, following their positive trends in demand, rental rates and market sentiment in 2023, according to JLL Malaysia managing director Jamie Tan when presenting at the JLL Greater Kuala Lumpur…
Read MoreAfter the acquisition, Suria KLCC will be a wholly-owned subsidiary of KLCC Property Holdings. (Bernama pic) PETALING JAYA: KLCC Property Holdings Bhd (KLCCP) has inked a share purchase agreement with the existing shareholders of Suria KLCC Sdn Bhd to acquire the remaining 40% equity interest worth RM1.95 billion. “The shareholders are Ocmador (Malaysia) City Retail…
Read MoreKUALA LUMPUR (Jan 26): Ahmad Zaki Sdn Bhd (AZSB), a wholly-owned subsidiary of engineering and construction group Ahmad Zaki Resources Bhd (AZRB), has been served with a winding-up petition by Sukiada Engineering Sdn Bhd (SESB) for allegedly failing to settle an outstanding amount of RM168,115.25 excluding interest as at June 30, 2023. AZRB said, however,…
Read MoreKUALA LUMPUR (Jan 26): KLCC Property Holdings Bhd (KLCCP) is buying the remaining 40% equity interest in Suria KLCC Sdn Bhd, which owns and manages Suria KLCC Mall here, for RM1.95 billion. In a statement on Friday, KLCCP said it has entered into a share purchase agreement with Ocmador (Malaysia) City Retail Centre Sdn Bhd,…
Read MoreKUALA LUMPUR (Jan 24): Following Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3% on Wednesday, economists project the key rate will be kept intact for the rest of the year. MIDF Research said from a medium-term perspective, policy rate normalisation is needed to avert risks that could destabilise the…
Read MoreKUALA LUMPUR (Jan 24): Maju Offshore Capital Sdn Bhd has ceased to be loss-making Bina Puri Holdings Bhd’s substantial shareholder after it sold a 2.96% stake in the company for RM4 million. Maju Offshore Capital offloaded the stake comprising 100 million shares via a direct business transaction on Monday, according to a bourse filing on…
Read MoreKUALA LUMPUR (Jan 24): Pavilion Real Estate Investment Trust (Pavilion REIT) said its net property income (NPI) rose 38.97% to RM134.64 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM96.89 million a year earlier, due to increased revenue from its malls, including newly acquired Pavilion Bukit Jalil. Quarterly revenue increased 47.54% to…
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