News by Izzul Ikram

Paragon Globe Bhd has proposed to acquire a 42.29ha parcel of land in Johor Bahru for RM71.5 million, which is more than half of its market capitalisation of RM130.66 million.

The land is three kilometres away from Phase 4 of the KHTP and will therefore be converted into industrial or residential status from its current agricultural status.

IGB Real Estate Investment Trust’s (IGB REIT) net property income (NPI) for the third quarter rose 80.95% to RM101.19 million from RM55.92 million a year earlier, mainly due to lower rental support to tenants arising from the economic reopening and improved retail sales of tenants.

Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) has raised the overnight policy rate (OPR) by 25 basis points (bps) to 2.75% on Thursday (Nov 3).

Ahead of the conclusion of Bank Negara Malaysia’s (BNM) monetary policy committee (MPC) meeting in November, Standard Chartered (StanChart) said it expects the central bank to announce a 25 basis point (bps) hike in the overnight policy rate (OPR) on Thursday (Nov 3), raising it to 2.75%.

Parkson Holdings Bhd’s 54.97%-owned subsidiary, Parkson Retail Group Ltd (PRG), said its shareholders have given their approval for the disposal of commercial properties in Qingdao, China for 280 million yuan (RM182 million).

Building materials and machinery company Knusford Bhd is disposing of a commercial land in Ulu Langat, Selangor to electric, building and general contractors LKC Ventures Sdn Bhd for RM14.63 million cash.

Gamuda Bhd has bagged a NT$14.5 billion (RM2.13 billion) contract to construct an underground rail track and commuter station in Taiwan's TaoYuan city, jointly with a local company.

Practice Note 17 company Top Builders Capital Bhd said trading of its shares will be suspended as it is unable to submit its 2022 annual report by the Oct 31 deadline.

The group is involved in property and land development, integrated facilities management, and project management and consultancy services.