KUALA LUMPUR (Jan 30): S P Setia Bhd handed over Gerai MBSA and a surau in Setia Alam Impian, Shah Alam, to the Valuation Department, Shah Alam City Council and the Selangor Islamic Religious Department recently. Approximately RM4.1 million had been spent for the construction of these two amenities. Its general manager Datuk Muhamad Zaili…
Read MoreKUALA LUMPUR (Jan 30): Oriental Interest Bhd’s net profit rose 41.83% to RM15.85 million for its first quarter ended Nov 30 2023 (1QFY2024), from RM11.18 million a year earlier, on the back of higher revenue. Earnings per share increased to 3.41 sen from 2.41 sen, according to the group’s stock exchange filing. Revenue rose 40.46%…
Read MoreKUALA LUMPUR (Jan 30): Ireka Corp Bhd is transferring its 30% stake in two associates linked to The RuMa Hotel and Residences to joint venture partner Aseana Properties Ltd, as part of a settlement to a suit filed by Aseana Properties’ subsidiary last October. Ireka will also transfer back its 19.55% stake in Aseana as…
Read MoreKUALA 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 MoreKUALA LUMPUR (Jan 30): The moderate growth pace of Malaysia’s property market in 2023 is most likely to continue this year, mainly due to buyers remaining cautious in property purchases despite overall sentiment having improved, according to Rahim & Co International Property Consultants Sdn Bhd at the launch of Rahim & Co Research Sdn Bhd’s…
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,…
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