News by Chester Tay

Thriven Global Bhd said its audited net loss for the financial year ended Dec 31, 2016 (FY16) was much larger as compared the unaudited net loss, due to impairment on the disposal of Bukit Tunku land.

The REIT said its manager is optimistic that it will be able to maintain its current performance for FY17 in view of the satisfactory performance of its existing investment portfolio and its growth strategy to actively pursue quality acquisitions.

Cahya Mata Sarawak Bhd (CMS), which has been awarded a Pan Borneo Highway contract, expects to benefit even more from the spillover effects of the mega highway project.

Meda Inc Bhd is disposing of its hotel The Summit Hotel Bukit Mertajam in Penang for RM20 million to partially fund its working capital requirements.

Hua Yang’s wholly-owned subsidiary Prisma Pelangi Sdn Bhd has inked a conditional share sale agreement with Fantastic Realty Sdn Bhd and five other individuals for the proposed acquisition, according to Hua Yang’s Bursa Malaysia filing yesterday.

In a filing with Bursa Malaysia today, IWCity said IWH has agreed to extend the original due date for its board to revert with its decision on whether the board is agreeable to put forward the proposed merger to the scheme shareholders for one more month from April 19 to May 5.

AmFIRST Real Estate Investment Trust (REIT) saw its net property income (NPI) grow by 15.37% to RM19.02 million in the fourth quarter ended March 31, 2017 (4QFY17), from RM16.49 million a year ago, mainly due to additional revenue from the newly acquired property, Mydin HyperMall and higher occupancy in Menara AmBank.

CapitaLand Malaysia Mall Trust’s (CMMT) net property income (NPI) for the first quarter ended March 31, 2017 (1QFY17) slid 1.5% to RM59.72 million from RM60.6 million a year ago, on lower contribution from its Klang Valley shopping malls.

Warrants of Eco World International Bhd (EWI-WA) rose for a second day yesterday as investors looked forward to more good news coming from the potential tie-up between the property developer and its strategic shareholder GuocoLand Ltd.

Mudajaya Group Bhd has bagged a RM58.29 million contract from Prasarana Malaysia Bhd to undertake the supply and delivery of precast pier caps and other related work under Package PC2 of the Light Rail Transit Line 3 (LRT3) project linking Bandar Utama to Johan Setia.