KUALA 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): Malaysia Building Society Bhd (MBSB) has appointed former Kumpulan Wang Persaraan (Diperbadankan) (KWAP) CEO Datuk Wan Kamaruzzaman Wan Ahmad as its chairman with immediate effect. His appointment confirms an earlier report by The Edge Weekly. MBSB’s previous chairman Tan Sri Azlan Zainol passed away in January last year. In a filing…
Read MoreKUALA LUMPUR (Jan 24): UEM Sunrise Bhd’s Allevia in Mont’Kiara, Kuala Lumpur has achieved a 90.5% take-up rate and is scheduled for handover in the first quarter of 2025 (1Q2025), according to a statement on Wednesday. Additionally, the developer has also announced, in the same statement, that the project has topped out on Tuesday with…
Read MoreKUALA LUMPUR (Jan 24): Fajarbaru Builder Group Bhd has been appointed as the developer of a RM192 million affordable housing project in Putrajaya by the federal territory’s local authority. In a bourse filing on Wednesday, Fajarbaru said it accepted a letter of offer from Perbandanan Putrajaya to be appointed as developer for the integrated development…
Read MoreKUALA 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 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,…
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