News by Chester Tay

These properties have a total gross floor area of 256,828 sq ft and are located in AME Elite’s industrial parks. 

The first transaction involved 1.06 million shares.

It may be challenging for older office buildings in the Klang Valley, which have been left vacant as their owners or tenants move to newer developments, to be filled up, as more new office buildings spring up and more companies move out of the older buildings, said experts in the property sector.

Menara Maybank appears to have an advantage over its fellow older buildings in terms of securing tenants in the Klang Valley when owner Malayan Banking Bhd (Maybank) moves its head office to Merdeka 118 in 2025.

The property sector has shown signs of recovery in the first half of this year (1H2022) as the economy reopened, but office and retail segments remained challenging amid a supply glut, according to the National Property Information Centre's (Napic) semi-annual report.

It is not immediately clear if Zainal Iskandar, 48, is retaining his CEO position.

Fitters Diversified Bhd is divesting 18.97-hectare agriculture land with residential development potential in Rawang for RM36 million.

Bank Negara Malaysia (BNM)’s Monetary Policy Committee (MPC) has raised its overnight policy rate (OPR) by 25 basis points (bps) to 2.5% on Thursday (Sept 8), in line with expectations for further normalisation of monetary policy as the country’s economic growth and inflation gain momentum.

Furniture maker-cum-builder TAFI Industries Bhd has secured a RM115 million contract from Magna Prima Bhd to build serviced apartments in Kepong, Kuala Lumpur over four years.

Iskandar Waterfront City Bhd (IWCity)’s external auditor Messrs Ernst & Young PLT (EY) resigned as the group adhered to “good corporate governance” by revisiting the appointment of auditor from time to time.