News by Adam Aziz

The group, through its wholly-owned subsidiary YNH Hospitality, said it is currently in talks with PMC for the sale of the five-storey hospital facility.

Mitrajaya Holdings Bhd has bagged a RM183.44 million contract from concessionaire West Coast Expressway Sdn Bhd to build Section 2 of the West Coast Expressway (WCE) from the South Klang Valley Expressway interchange to the Shah Alam Expressway interchange.

Rafizi has been vocal towards the issues surrounding the MRT project, which he claimed would reach more than RM100 billion upon completion.

The builder said its indirect wholly-owned subsidiary, Tema Warisan Sdn Bhd, yesterday inked a joint-venture agreement with Perikatan Progresif Sdn Bhd for the development on a 17.5-acre leasehold land.

TA Securities Research has maintained its “Underweight” rating on the property sector, as “weak market sentiment, increasing supply and tight lending environment are expected to weigh on property sales”.

Gain from one land sale has lifted Guocoland (M) Bhd’s net profit to RM110.8 million, or 16.54 sen per share, for the second financial quarter ended Dec 31, 2016.

The trust declared a final income distribution of 3.73 sen per unit, payable on Feb 28.

Looking ahead, the trust said it will further explore asset enhancement initiatives at its two properties, namely Mid Valley Megamall and The Gardens Mall.

The property comprises a 45,000 sq ft piece of leasehold land rated at RM1,100 per sq ft and a single-storey detached factory.

The REIT's IPO exercise saw the 10.2 million units offered to the Malaysian public oversubscribed by more than five times.