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Sunway REIT posts 10% rise in 1Q profit, retail segment leads recovery

Sunway REIT posts 10% rise in 1Q profit, retail segment leads recovery

news

Updated:
  • Sunway REIT reported a 10% increase in profit before tax to RM114.8 million for 1Q2026.
  • Retail segment excelled with a 10% revenue rise, while the hotel segment faced a 19% decline.
  • Management remains cautiously optimistic, focusing on operational excellence and sustainability.
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Encorp, KBI Properties to explore strategic property development opportunities

Encorp, KBI Properties to explore strategic property development opportunities

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Updated:
  • Encorp Bhd has signed an MOU with KBI Properties to explore property development partnerships.
  • The agreement aims to assess joint strategic initiatives for mutual benefit.
  • Both companies will combine expertise to pursue long-term growth in the improving domestic property market.
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Axis-REIT acquires Shah Alam industrial complex for RM38m in related party deal

Axis-REIT acquires Shah Alam industrial complex for RM38m in related party deal

news

Updated:
  • Axis-REIT is acquiring an industrial complex in Shah Alam for RM38 million from Rubicon Assets Sdn Bhd.
  • The property is fully occupied by three tenants, generating a monthly rental income of RM210,476.75.
  • Post-acquisition, Axis-REIT's financing ratio will rise to 32.84% of audited total assets as at Dec 31, 2025.
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KPKT urges local councils to cut small traders' rents, commends DBKL’s reductions up to 50%

KPKT urges local councils to cut small traders' rents, commends DBKL’s reductions up to 50%

news

Updated:
  • The Housing Ministry urges local authorities to reduce rental rates for business premises until end-2026.
  • This initiative aims to ease costs for hawkers and small traders while promoting economic growth.
  • KPKT commended PBTs like DBKL for implementing rental reductions of up to 50%.
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PBT tenants in Negeri Sembilan to enjoy 20% rental cut

PBT tenants in Negeri Sembilan to enjoy 20% rental cut

news

Updated:
  • The Negeri Sembilan government will reduce rental fees by 20% for tenants from June to December.
  • This initiative will benefit 5,199 tenants across various local councils, costing RM1.4 million.
  • Additionally, vacant portfolios will be managed by current councillors amid recent political changes.
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Bank of America opens new office at Merdeka 118, reinforcing commitment to Malaysia

Bank of America opens new office at Merdeka 118, reinforcing commitment to Malaysia

news

Updated:
  • Bank of America has opened a new office at Merdeka 118 in Kuala Lumpur, showing commitment to Malaysia.
  • The inauguration was attended by key executives, highlighting the bank's focus on responsible growth.
  • Its Malaysian office will offer various services, marking a new phase since entering the market in 1959.
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The Wyn Residences hits 66% take-up as completion timeline accelerated to June 2027

The Wyn Residences hits 66% take-up as completion timeline accelerated to June 2027

news

Updated:
  • Land & General Bhd has advanced The Wyn Residences completion to June 2027, a year earlier than planned.
  • The project has a 66% take-up rate and recently celebrated structural completion at a topping-up ceremony.
  • This development features 1,546 units across three towers, with prices starting at RM480,000.
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IWG expands Spaces coworking footprint in TTDI amid rising demand for flexible workspaces

IWG expands Spaces coworking footprint in TTDI amid rising demand for flexible workspaces

news

Updated:
  • IWG is launching a new Spaces coworking centre in TTDI, Kuala Lumpur, to meet rising demand.
  • The 24,700 sq ft facility offers flexible workspaces and is strategically located near major transport links.
  • This expansion reflects IWG's commitment to providing high-quality work environments.
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Economy minister urges local authorities, state govts to slash rental rates of premises

Economy minister urges local authorities, state govts to slash rental rates of premises

news

Updated:
  • The National Economic Action Council urges local authorities to reduce rental rates for shops and premises.
  • This initiative aims to support petty traders facing rising costs and potential business closures.
  • There are signs of shifting consumer behaviour towards more cost-effective choices amid rising prices.
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Sunway REIT posts 10% rise in 1Q profit, retail segment leads recovery