KUALA LUMPUR (Jan 24): Energy infrastructure group Wasco Bhd is disposing a parcel of land together with storage buildings erected on site in Shah Alam for RM40 million to Array Metal (M) Sdn Bhd. The freehold land, measuring 18,363 sq m, is located along Jalan Bukit Kemuning in Section 34. Wasco had spent RM10.19 million…
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…
Read MoreThe younger generation’s inability to afford a home is exacerbated by the fact they are buckling under the skyrocketing cost of living THE financial stretch continues to keep Malaysians living in major cities from realising their dreams of home ownership. Among the younger generation, their major concerns are the property prices that are now multiple…
Read MoreKUALA LUMPUR (Jan 23): Rapid Synergy Bhd, which came into the spotlight in recent days amid a sharp fall in its share price, has given more details of the freehold land in Sri Hartamas that it is diposing of for RM39 million. The industrial mould manufacturer said it signed an agreement on Tuesday to sell…
Read MoreKUALA LUMPUR (Jan 24): Malaysia’s headline interest rate, the overnight policy rate (OPR), has been maintained at 3% following the Monetary Policy Committee (MPC) meeting on Wednesday, said Bank Negara Malaysia (BNM). This is the fourth time that the MPC has decided to maintain the OPR at 3% since July 2023. The headline rate was…
Read MoreKUALA LUMPUR (Jan 24): RHB IB has raised Sentral REIT’s earning forecast for 2024–2025 (FY2024F–2025F) by 11% after incorporating contributions from the Menara CelcomDigi acquisition. In a note on Wednesday, RHB IB stated that Sentral REIT’s net profit for the fourth quarter of 2023 (4Q2023) came in at RM19.2 million, a 15.7% year-on-year (y-o-y) increase,…
Read MoreKUALA LUMPUR (Jan 23): Axis Real Estate Investment Trust’s (Axis REIT) net property income (NPI) for the fourth quarter ended Dec 31, 2023 (4QFY2023) increased by 6.3% to RM66.16 million from RM62.22 million a year ago, on the back of higher revenue. Quarterly revenue edged up by 6.5% to RM75.6 million from RM70.98 million in…
Read MoreKUALA LUMPUR (Jan 23): Sentral Real Estate Investment Trust (Sentral REIT)’s net property income (NPI) rose 30.21% to RM36.26 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM27.85 million a year earlier, on the back of higher revenue. Gross revenue increased 28.24% to RM46.66 million from RM36.39 million in 4QFY2022, mainly due…
Read More
