News by Choy Nyen Yiau

IGB Real Estate Investment Trust (KL:IGBREIT) and IGB Commercial Real Estate Investment Trust (KL:IGBCR) will see their former group chief financial officer Chai Lai Sim return from retirement to take the helm at both REITs.

Magma Group Bhd (KL:MAGMA), which is primarily in hotel management and property development, announced the emergence of several new substantial shareholders on Thursday, including former national badminton player Datuk Wira Lee Chong Wei.

IGB REIT and IGB Commercial REIT reported higher earnings in the first quarter ended March 31, 2025, but warned investors of challenges ahead.

Sime Darby Property Bhd (KL:SIMEPROP) on Friday unveiled a 760-acre industrial development within the Malaysia Vision Valley 2.0 growth area in Negeri Sembilan.

Ho Hup Construction Co Bhd (KL:HOHUP) said on Friday it has been classified as a Practice Note 17 (PN17) issuer after its subsidiary defaulted on outstanding loan facilities of RM112.69 million.

CapitaLand Malaysia Trust (KL:CLMT) started financial year 2025 with a 9.6% year-on-year increase in first-quarter net property income (NPI), boosted by higher revenue from most properties, strong retail rental growth, and income from the fully occupied Glenmarie Distribution Centre after its upgrade.

Practice Note 17 (PN17) construction outfit TXCD Bhd (KL:TXCD), formerly known as Ageson Bhd, said on Friday that it has secured an RM85.5 million subcontract to undertake a construction project in Bandar Subang Jaya, Selangor.

Fajarbaru Builder Group Bhd (KL:FAJAR) said on Tuesday it has clinched a RM63.7 million contract for construction works in Klang, Selangor.

Kerjaya Prospek Group Bhd (KL:KERJAYA) said on Monday that it has secured a contract worth RM291.43 million for construction works in Pulau Andaman, Penang.

The construction sector is likely to be less impacted by the US tariffs due to its focus on the domestic market, but industrial job flows may slow temporarily as companies adjust their strategies, analysts said.