News by Chester Tay

Bank Negara Malaysia is not likely to take an aggressive stance in normalising its monetary policy to the pre-pandemic level as it would risk disrupting the ongoing economic recovery.

Legoland Malaysia Resort has announced plans to enhance its theme park with new festive events and leisure activities, while also refurbish its Legoland Hotel rooms with new themes, to ride on the country’s tourism recovery.

TWL Holdings Bhd, formerly known as Tiger Synergy Bhd, is buying three plots of freehold land in UEP Subang Jaya (USJ) and Putra Heights for RM45 million.

Pavilion Real Estate Investment Trust (REIT) net property income (NPI) for the second quarter ended June 30, 2022 (2QFY22) jumped 74.5% to RM83.11 million, up from RM47.62 million a year ago, as revenue was higher while operating expenses declined after economic reopen.

AME Elite Consortium Bhd has entered into an underwriting agreement with I REIT Managers Sdn Bhd, RHB Trustees Bhd and Hong Leong Investment Bank Bhd for the initial public offering (IPO) of AME Real Estate Investment Trust (REIT).

CLAB is an organisation established by the Construction Industry Development Board (CIDB) to bring in and redistribute foreign workers for companies and organisations in Malaysia.

in a filing with Bursa Malaysia, the industrial property-focused REIT said the placement involves issuing up to 40.93 million new units (representing up to 20% of the REIT’s total issued units) to third party investors, while the special issuance involves issuing 20 million new units to Chan.

"Amid the positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation. This is consistent with the MPC’s view that the unprecedented conditions that necessitated a historically low OPR have continued to recede," BNM said.

In a bourse filing, the group said the plots — measuring 10.86 ha — are being bought by its wholly-owned Paragon Platinum Sdn Bhd, which has inked the respective sale and purchase agreements with the vendors — Singaporeans Lim Thiam Seng and Lim Yok Sing and two companies linked to them, Eng Foo (Lim) Enterprise Sdn Bhd and Heng Foo Lim Enterprise Sdn Bhd — for the proposed acquisition.

Acquiring the properties, which include 16,208 square metres of freehold land and the buildings on it, will provide the group a greater flexibility in undertaking future expansion plans and eliminate the risk of non-renewal of tenancy, said Minda Global.