KUALA LUMPUR (Oct 4): RHB Research is still upbeat on industrial real estate investment trusts (REITs), as the demand and supply dynamics in the sector remain in favour of landlords, despite acquisitions declining after a sharp rise in valuations during the Covid-19 pandemic, which had compressed yields. In a sectoral update on Wednesday, the research…
Read MoreKUALA LUMPUR (Oct 3): LBS Bina Group Bhd has announced several proposals for Budget 2024 that it deems essential to spur the local property sector in a press statement on Tuesday. LBS Bina executive chairman Tan Sri Lim Hock San said, “We are hopeful that Budget 2024 will bring about significant change, and positively influence…
Read MoreKUALA LUMPUR (Oct 3): Piling and foundation specialist Econpile Holdings Bhd has bagged a contract worth RM101.34 million to undertake sub-structure works of three blocks of small office-home office (SoHo) here. In a bourse filing on Monday, Econpile said its wholly-owned subsidiary Econpile (M) Sdn Bhd has accepted the letter of award from Suriamega Development…
Read MoreKUALA LUMPUR (Oct 3): Property developer Sunsuria Bhd said OCBC Bank (Malaysia) Bhd has granted an additional limit of RM120 million to its 51%-owned subsidiary Bangsar Hill Park Development Sdn Bhd (BHPDSB), bringing its total credit facilities to RM420.483 million. Pursuant to the facilities, Sunsuria itself has provided financial assistance to BHPDSB in the form…
Read MoreKUALA LUMPUR (Oct 2): MRCB Land Sdn Bhd’s latest high-rise residential development, named Tujuh Residences in the ongoing 94-acre Kwasa Damansara City Centre (KDCC) project, is now open for preview, according to a press statement on last Friday (Sept 29). Tujuh Residences will be a 29-storey apartment tower, comprising 573 units. These homes offer one-…
Read MoreKUALA LUMPUR (Sept 29): UEM Sunrise Bhd has issued Islamic medium-term notes (IMTNs) worth RM350 million in nominal value. According to a filing on Friday, the property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure. The…
Read MoreKUALA LUMPUR (Sept 29): Sunway Bhd, and in turn its founder and executive chairman Tan Sri Jeffrey Cheah Fook Ling, have ceased to be a substantial shareholder of construction giant IJM Corp Bhd following a 0.08% stake disposal. In a bourse filing on Friday, Sunway said its wholly-owned subsidiary Fortuna Gembira Enterpris Sdn Bhd ceased…
Read MoreKUALA LUMPUR (Sept 29): Eastern & Oriental Bhd’s (E&O) executive chairman Datuk Tee Eng Ho and his brother, executive director Tee Eng Seng, raised their stake in the property developer to 50.39% via the conversion of irredeemable convertible unsecured loan stocks (ICULS). According to a bourse filing on Friday, Eng Seng and Eng Ho’s vehicle…
Read MoreKUALA LUMPUR (Oct 2): Malaysia Building Society Bhd (MBSB) has completed its acquisition of Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB) for RM1.01 billion worth of new share issuance at 96.52 sen per share. MBSB told Bursa Malaysia on Monday that 1.05 billion new shares were allotted to PNB, resulting in…
Read MoreKUALA LUMPUR (Oct 2): Hektar Real Estate Investment Trust (Hektar REIT) will install 13 electric vehicle (EV) charging bays in six shopping malls under its portfolio starting Jan 1, 2024. The installation initiative stems from a collaboration between Hektar Asset Management Sdn Bhd, manager of Hektar REIT, and GMA Resources. Hektar Asset Management CEO and…
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