KUALA LUMPUR (Aug 16): Kuala Lumpur City Hall (DBKL) has announced recently that residential and commercial buildings with strata status under its jurisdiction are not allowed to add internal walls to create new bedrooms. In a circular dated July 21 that was addressed to the chairman of all joint management bodies (JMBs), management corporations (MCs),…
Read MoreKUALA LUMPUR (Aug 16): The first phase of IJM Land Bhd’s Nexus, which comprises 166 shop offices in the 2,300-acre Seremban 2 township, has been 80% taken up since its launch on July 22. A press statement Wednesday (Aug 16) said Nexus, which is spread across a 21.42-acre tract, will be developed in two phases….
Read MoreKUALA LUMPUR (Aug 16): Several vehicles were damaged after part of he roof structure of a five-storey building in Jalan Kuchai Lama, here, collapsed last night. A spokesman for the Kuala Lumpur Fire and Rescue Department, when contacted, said that the incident, which occurred at about 10.30 pm, however, did not involve any casualties. Meanwhile,…
Read MoreKUALA LUMPUR (Aug 15): KLCC Stapled Group Bhd’s net profit for the second quarter ended June 30, 2023 (2QFY2023) rose 9.46% to RM180.8 million, from RM165.18 million a year ago, on the back of higher revenue and interest income. The group — comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust (KLCC…
Read MoreKUALA LUMPUR (Aug 15): Country Heights Holdings Bhd, the property developer founded by tycoon Tan Sri Lee Kim Yew, has defaulted on the payment of Islamic term financing facilities totaling RM181.1 million provided by MBSB Bank Bhd. The default by the group’s indirect wholly-owned units, Mines Waterfront Business Park Sdn Bhd (MWBP) and Mines International…
Read MoreKUALA LUMPUR (Aug 15): Impiana Hotels Bhd saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following the duo’s acquisition of 120.8 million shares or 19.9% stake in the company. It should be noted that Lee is an executive chairman of…
Read MoreKUALA LUMPUR (Aug 15): Impiana Hotels Bhd saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following the duo’s acquisition of 120.8 million shares or 19.9% stake in the company. Lee is the group chairman of HYM Group, which owns and operates…
Read MoreKUALA LUMPUR (Aug 15): Analysts believe that KLCCP Stapled Group’s solid office occupancies, stronger sales, and improved hotel occupancies from higher tourist arrivals during the summer and Christmas holidays in the second half of the financial year ending Dec 31, 2023 (2HFY2023) will boost its earnings during the period. After the group’s results for 1HFY2023 came…
Read MoreKUALA LUMPUR (Aug 14): Knight Frank’s Asia-Pacific Prime Office Rental Index for 2Q2023 has dropped by 1.6% quarter-on-quarter (q-o-q), maintaining a year-long downward trend since 2Q2022. This “can largely be attributed to continued soft conditions in the Chinese Mainland”, stated the global real estate consulting firm in a media release. Vacancies rose marginally by a quarter…
Read MoreKUALA LUMPUR (Aug 11): CGS-CIMB maintained its “buy” call on Sime Darby Property Bhd and raised its target price (TP) by 19% to 87 sen from 73 sen on the group’s diversified product mix, high unbilled sales and strong balance sheet. CGS-CIMB’s revised TP of 87 sen is based on 0.6 times its financial year…
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