KUALA LUMPUR (Oct 20): EcoFirst Consolidated Bhd is selling 15 retail units from its completed Liberty Arc @ Ampang Ukay mixed development project to major shareholder Tan You Tiong for RM23.82 million. Tan owns a 2.92% direct stake and has 11.1% indirect shareholdings through his wife and Aspirewell Sdn Bhd, hence the divestment is deemed…
Read MoreKUALA LUMPUR (Oct 20): KIP Real Estate Investment Trust (REIT) reported a 15.2% surge in net property income (NPI) for the first quarter ended Sept 30, 2023 (1QFY24), despite its NPI margin declining marginally to 73.8% during the quarter compared with 74.1% in the corresponding quarter. The higher NPI of RM16.52 million during the quarter…
Read MoreKUALA LUMPUR (Oct 23): Raising the overnight policy rate (OPR) may no longer be “relevant” given the decline of headline inflation to below 2% recently, said Deputy Finance Minister Datuk Seri Ahmad Maslan. Notably Malaysia’s current OPR currently stands at 3%, while the headline inflation rate slowed to 1.9% year-on-year in September 2023, marking the…
Read MoreKUALA LUMPUR (Oct 19): The emergence of a well-managed and well-planned industrial park with emphasis on environmental, social and governance (ESG) attributes and technology adoption will attract high-value investment, said Knight Frank Malaysia executive director Allan Sim at the Selangor Industrial Park Expo (SPARK) 2023 held at the Kuala Lumpur Convention Centre on Thursday. SPARK…
Read MoreKUALA LUMPUR (Oct 19): Global Oriental Bhd, whose revenue is mainly derived from property development, is acquiring a 55% stake in a car park management firm to expand its earnings base. The group is buying the stake in Edisijuta Parking Sdn Bhd (EPSB) for RM27.5 million cash from Cahaya Impian Sdn Bhd. Cahaya Impian currently…
Read MoreKUALA LUMPUR (Oct 19): Gamuda Land on Thursday signed memorandum of understanding (MOU) with 12 tenants for its upcoming Quayside Plaza in its twentyfive7 township development located in Telok Panglima Garang, Selangor. The 12 tenants are Jihun Korean Fried Chicken, My BurgerLab, BarTailor, Chinese traditional herbal jelly and tea vendor Koong Woh Tong, beauty and…
Read MoreKUALA LUMPUR (Oct 19): Timber manufacturer Minho (M) Bhd said it is acquiring a 7.84-hectare piece of freehold land in an industrial area in Kuala Selangor for RM18.41 million. The group plans to construct factories and covered warehouses on the land as part of its long-term plan to relocate some of its operations and existing…
Read MoreKUALA LUMPUR (Oct 20): Construction Industry Development Board’s (CIDB) subsidiary Construction Research Institute of Malaysia (Cream) has secured a RM1 million research grant from YTL Cement. In a recent joint statement, Cream and YTL said the grant is a follow-up to the Memorandum of Understanding (MOU) between the two organisations in April this year, highlighting…
Read MoreKUALA LUMPUR (Oct 19): Reneuco Bhd has signed a memorandum of understanding (MOU) with the Petaling Jaya City Council (MBPJ) for rooftop solar photovoltaic installation at Pusat Inovasi MBPJ in Taman Sains Selangor. Reneuco said its wholly owned subsidiary Reneuco RE was appointed by MBPJ for the proposed installation, which involves 267.3kWp generation capacity, Reneuco…
Read MoreKUALA LUMPUR (Oct 18): The allocation of RM72.7 billion in Budget 2024 for the implementation of construction works will provide work opportunities to small and medium contractors (G1 to G4), and boost the national construction industry. Construction Industry Development Board (CIDB) chief executive Datuk Mohd Zaid Zakaria said the implementation of these projects effectively requires…
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