News by Izzul Ikram

KJTS Group Bhd (KL:KJTS) has secured a contract from KIP Real Estate Investment Trust (KL:KIPREIT) to provide retrofit works, operations and maintenance (O&M) services as well as provide chilled water supply for seven of the retail property trust’s shopping malls.

The list of non-core assets includes the Mercure KL Glenmarie hotel and the Petaling Jaya office building Ashwood ATWATER.

The company had a remaining GDV of RM5.5 billion as at end-2024, from its 369.4-acre undeveloped land and unsold units in launched projects.

The property developer is pivoting towards “sustainable, quality growth” going forward after years of aggressive revenue and earnings growth.

The contract, awarded by AFA Construction and Engineering Sdn Bhd (AFACE) to UEM Edgenta’s wholly-owned Edgenta Propel Bhd (EPB), is considered a related-party transaction because UEM Edgenta's independent, non-executive chairman Tan Sri Dr Azmil Khalili Khalid is the sole owner and director of AFACE’s parent company, AFA Infrastructure and Development Sdn Bhd,

Berjaya Corp Bhd (KL:BJCORP) remained in the red for its second quarter ended Dec 31, 2024 (2QFY2025), dragged by high finance costs and investment-related expenses.

Axis Real Estate Investment Trust (KL:AXREIT) is selling a warehouse property in Petaling Jaya, called The Annex, for RM24.2 million.

Telekom Malaysia Bhd (KL:TM) expects the second phase of its data centres in Cyberjaya and Iskandar Puteri, Johor, to achieve commercial operation in the third quarter of 2025 (3Q2025).

Practice Note 17 (PN17) company Perak Corp Bhd (KL:PRKCORP) has proposed a regularisation plan that consists of a capital reduction, joint development project, RM89.6 million in land sales, RM40.38 million entitlement from a joint development, and preference share issuance to settle debt owed to creditors.

Eco World Development Group Bhd (EcoWorld Malaysia) (KL:ECOWLD) has taken full control of a firm developing properties in Puncak Alam by acquiring the Employees Provident Fund's (EPF) 40% stake in the firm.