Financially-troubled Perak Corp Bhd (KL:PRKCORP) said it is entitled to a RM40.38 million entitlement after entering into a supplemental agreement concerning the development of a 56.3-acre land known as the Teluk Dalam land.
Property developer Glomac Bhd (KL:GLOMAC) has established an Islamic medium-term note (IMTN) programme of up to RM3 billion in nominal value with Malayan Banking Bhd (KL:MAYBANK), to be utilised for land acquisition, capital expenditure and working capital.
In recent developments, Kuala Lumpur City Hall (DBKL) is contemplating an increase in assessment tax rates, following the Selangor state government's 25% hike effective from January this year. This move has raised concerns among residents, who are calling for greater transparency and financial accountability from DBKL before any rate adjustments are implemented.
Sunway Bhd (KL:SUNWAY) said on Thursday it has signed a master agreement for a mixed-use development worth more than RM2.6 billion in Johor.
Pavilion Real Estate Investment Trust (Pavilion REIT) (KL:PAVREIT) reported a marginal increase of 0.2% in net property income (NPI) to RM134.86 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), compared with RM134.64 million in the previous corresponding quarter.
Data centre jobs in Malaysia appear intact despite the US’ attempt to curb exports of advanced chips thanks to strong demand for digital infrastructure, said IJM Corporation Bhd (KL:IJM).
Malaysian Pacific Industries Bhd (KL:MPI) is disposing of two parcels of land in Bayan Lepas, Penang for a total cash consideration of RM140 million.
Seremban-based property developer Matrix Concepts Holdings Bhd (KL:MATRIX) is divesting 38.65 acres of land in the town for RM90.91 million in a related-party transaction.
Noteworthy:
When: August 2024
Prime Grade A office space in Asia-Pacific is set to increase by 7% in 2025, up from 4% in 2024, with over 40% of new supply concentrated in mainland China, according to the Knight Frank’s Asia-Pacific 4Q2024 Office Highlights report.
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