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Penang to conduct legalisation for People's Housing Projects, State Rental Homes

Penang to conduct legalisation for People's Housing Projects, State Rental Homes

news

Updated:
  • The Penang government will legalise People’s Housing Projects with rental arrears over RM2 million.
  • Over 30% of tenants may need to vacate due to income limits of RM1,500 or less.
  • Initial notices have been issued to tenants at Taman Manggis PPR, with a three-month deadline to vacate.
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HLIB less bullish on Malaysia’s REIT sector as tax removal squeezes yields, investors shift to alternatives

HLIB less bullish on Malaysia’s REIT sector as tax removal squeezes yields, investors shift to alternatives

news

Updated:
  • Hong Leong Investment Bank downgraded Malaysia's REIT sector from "overweight" to "neutral".
  • They cited narrow yield spreads and competition from high-dividend alternatives as key factors.
  • Despite resilient earnings, rising operating costs and tax changes may limit growth potential.
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Sime Darby Property proposes new long-term incentive plan for key staff, covering up to 5% of issued shares

Sime Darby Property proposes new long-term incentive plan for key staff, covering up to 5% of issued shares

news

Updated:
  • Sime Darby Property Bhd is launching a long-term incentive plan for executives, capped at 5% of shares.
  • The plan includes a Performance Share Grant and a Restricted Share Grant, tied to performance and service.
  • Approval from Bursa Malaysia and shareholders is needed, with implementation expected by 3Q2026.
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Chin Hin Group Property wraps up private placement, abandons remaining tranche

Chin Hin Group Property wraps up private placement, abandons remaining tranche

news

Updated:
  • Chin Hin Group Property Bhd completed its private placement, raising RM73.9 million from 64.3 million shares.
  • The company opted not to extend the placement deadline and will not issue remaining shares.
  • Initially targeting RM105 million, the funds were intended for joint venture projects with Fiamma Holdings Bhd.
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MRCB profit holds steady at RM73.2m PBT as new project wins offset 27% revenue drop from LRT3 taper

MRCB profit holds steady at RM73.2m PBT as new project wins offset 27% revenue drop from LRT3 taper

news

Updated:
  • MRCB reported a revenue of RM1.20 billion for FY2025, down 27% from the previous year due to project completions.
  • The Engineering division led with RM944.8 million in revenue, while property sales rose 11% to RM927.4 million, driven by Australian developments.
  • MRCB plans RM2.2 billion in domestic launches for 2026, expecting revenue normalisation by 2027.
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Maybank sets May 6 for Merdeka 118 move, anchoring world’s second-tallest building

Maybank sets May 6 for Merdeka 118 move, anchoring world’s second-tallest building

news

Updated:
  • Maybank will officially relocate its head office to Menara Merdeka 118 on May 6.
  • The move involves 33 floors and approximately 7,000 employees, marking a significant milestone.
  • Menara Maybank will be leased back to PNB, ensuring its continued operation as an office property.
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Tanco denies new undisclosed developments behind share price surge, points to Midport Project media coverage

Tanco denies new undisclosed developments behind share price surge, points to Midport Project media coverage

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Updated:
  • Tanco Holdings Bhd addressed Bursa Malaysia's UMA query regarding its rising share price.
  • The company stated no new corporate developments were known to its board, attributing interest to past milestones.
  • Tanco confirmed compliance with listing requirements and will announce future developments when finalised.
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Zelan's proposed scheme of arrangement receives 100% creditor approval at court-convened meeting

Zelan's proposed scheme of arrangement receives 100% creditor approval at court-convened meeting

news

Updated:
  • Zelan Bhd has secured unanimous creditor approval for its debt restructuring scheme.
  • The company, classified as PN17, has been on Bursa Malaysia's watchlist since late 2025.
  • It will now seek court sanction for the proposed arrangement following the creditors' meeting on April 20.
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MRCB completes acquisition of 80% equity interest in Bukit Jalil Sentral Property, pays RM1.49b to EPF

MRCB completes acquisition of 80% equity interest in Bukit Jalil Sentral Property, pays RM1.49b to EPF

news

Updated:
  • Malaysian Resources Corp Bhd (MRCB) acquired an 80% stake in Bukit Jalil Sentral Property Sdn Bhd.
  • The purchase included a cash payment of RM1.42 billion to the Employees Provident Fund.
  • BJSP is now an indirect wholly-owned subsidiary of MRCB, enhancing its strategic property portfolio.
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SCIB's Ku Chong Hong emerges as Axteria substantial shareholder, appointed executive director

SCIB's Ku Chong Hong emerges as Axteria substantial shareholder, appointed executive director

news

Updated:
  • Ku Chong Hong has acquired a 27.13% stake in Axteria Group Bhd through Atlantis Corporate Sdn Bhd.
  • Woo Wai Onn has exited Axteria after selling his 23.62% stake, while Datuk Abdullah Abdul Mannan and Mok Juan Chek resigned from their positions.
  • Axteria appointed Oh Bang Han as an executive director amid these changes.
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