Hektar Real Estate Investment Trust’s (REIT) net property income (NPI) slipped 4.1% to RM18.73 million for the fourth quarter ended Dec 31, 2016 (4QFY16), from RM19.53 million a year earlier, due to higher service and maintenance charges.
Bina Darulaman Bhd (BDB) saw its net profit rise 61.4% to RM23.27 million or 7.65 sen a share in the fourth quarter ended Dec 31, 2016 (4QFY16) from RM14.41 million or 4.74 sen a share a year ago, due to higher contribution by the property division.
Sunway Property, the property division of Sunway Bhd, is looking to launch RM2 billion worth of properties this year with 90% of the launches in Malaysia, while the remaining will be in Tianjin, China.
Sunway Property’s newly acquired 8.45-acre prime land along Jalan Peel, Kuala Lumpur will be developed into Sunway Velocity TWO.
Sunway Bhd entered into a joint venture (JV) agreement to acquire Austral Meridian Property Sdn Bhd which will enable Sunway to gain an additional 3.41ha of leasehold land in Jalan Peel.
Magna Prima Bhd said today it has appointed Ho Wen Yan as its new executive director. Ho, 42, is currently the executive director and chief executive officer of property developer Hua Yang Bhd.
IOI Properties Group Bhd is looking to launch property projects worth an estimated gross development value (GDV) of RM2 billion to RM2.5 billion in 2017, said chief executive officer Lee Yeow Seng.
The manager of Manulife US REIT reported a distribution per unit (DPU) of 3.55 US cents (5 Singapore cents) for FY16, which exceeded the forecast DPU of 3.39 US cents by 4.8% due to higher property performance and lower borrowing costs and trust expenses.
Kuala Lumpur Kepong Bhd (KLK) is expected to release its first quarter financial year 2017 (1QFY17) financial results tomorrow. We are expecting its core net income to be in the range of RM320 million to RM350 million.
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