News by Adam Aziz

The government will not allow increases in electricity tariffs that would burden the majority of the public, said Prime Minister Datuk Seri Anwar Ibrahim.

The proposed adjustment in Peninsular Malaysia’s base electricity tariff under the Regulatory Period 2025-2027 (RP4) is mainly a “rebasing exercise” to reflect higher fuel costs assumption, said Tenaga Nasional Bhd (KL:TENAGA).

The government has cancelled five of 12 outstanding 'River of Life' projects following a review, as they are deemed "less significant" towards achieving the programme’s objectives, said Minister at the Prime Minister’s Department (Federal Territories) Zaliha Mustafa.

RHB Research said it expects SimeProp's two data-centre projects, both for Pearl Computing Malaysia, to bring RM380 million in rental income per year, translating to RM170 million to RM180 million in annual net profit. 

The consortium came out to explain the variation of its proposal compared to certain requirements underlined by the state in its request for proposal were "best explained and clarified in a face-to-face meeting".

Sime Darby Property Bhd (KL:SIMEPROP) said it has signed an agreement for a 20-year lease of data-centre facilities to Pearl Computing Malaysia Sdn Bhd for up to RM5.6 billion, beginning as early as 2027.

The government has increased the rooftop solar capacity by another 300MW for the commercial and industrial segment, and by 50MW for households.

IOI Properties Group Bhd (KL:IOIPG) has declined the offer to purchase Singapore commercial property Shenton House from its chief executive officer and major shareholder Lee Yeow Seng.

Industronics Bhd said it has been appointed as the project management company to develop a hotel and golf course on a 155-acre parcel of land in Langkawi.

Sentral Real Estate Investment Trust (KL:SENTRAL), or Sentral REIT, posted a 30.29% increase in its net property income in the first quarter ended March 31, 2024 (1QFY2024) to RM38.15 million from RM29.28 million a year ago, on higher contribution from four of its key properties.