News by Adela Megan Willy

AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) aims to acquire “trophy assets” in the immediate term, despite the softening property market, said Amanah Raya Bhd’s (ARB) group managing director Adenan Md Yusof.

Mitrajaya Holdings Bhd’s wholly-owned unit has won a RM273.8 million contract to build a centre of excellence in Jalan Dato’ Onn here.

Matrix Concepts Holdings Bhd is putting its plans to expand its property development business overseas on hold, as it strives to cater to existing demand for properties in Malaysia.

The industrial premises, which sits on a 3.23ha plot, comprises a three-storey office building with an annexed single-storey factory, two blocks of single-storey factories and a guardhouse.

Last Wednesday, Anzo announced that its wholly-owned construction arm, Harvest Court Construction Sdn Bhd, had received a letter of intent from Tinta Anggun Engineering Sdn Bhd for a RM109.3 million contract to build Phase 2 of the Porto De Melaka Hotel and Resort development in Melaka

It said its 60%-owned unit Mitrajaya Equipment Resource Sdn Bhd is buying the land, located along Jalan Nilai-KLIA (towards Bandar Baru Salak Tinggi), from Visible Profit Sdn Bhd.

A report by real estate publication The Real Deal said that Miami Dade’s County Commission’s transportation committee had “unanimously agreed” to lease the public asset to the conglomerate for 90 years.

Still, prioritising its M&E and construction businesses does not mean the property division will come to a halt.

Its quarterly revenue was up marginally by 1.6% to RM149.32 million from RM146.93 million, mainly contributed by its construction segment, which generated RM102.9 million.

The group said it posted a higher profit before taxation from its continuing operations of RM20.88 million in 3QFY2017, versus a PBT of RM10.23 million a year ago.