News by M

Outlook for the KL, Selangor office markets remain cloudy; retail sales growth to remain weak as consumers grapple with rising living cost and lower disposable income, says Knight Frank Malaysia.

Prices for the SoHo units with built-up sizes of 450 sq ft range from RM700 psf to RM750 psf while the retail units will be owned and rented out by EcoFirst.

Revenue for the quarter grew 6% to S$126.7 million, largely attributed to additional contribution from ART’s acquisition of Sheraton Tribeca New York Hotel in the US, which was completed in April 2016.

The trust declared a final income distribution of 3.73 sen per unit, payable on Feb 28.

The Waterside Residence is the first residential tower in The Light Waterfront Phase 2, with an estimated gross development value of RM240 million.

FY2016 hotel revenue declined 4% y-o-y due to the commencement of guest room refurbishment in the Mandarin Oriental (MO) and lower food and beverage contribution from rebranding of the Sultan Lounge and Casbah.

Having successfully diversified into the construction business, timber products company NWP Holdings Bhd is venturing into property development too.

Ecofirst Consolidated said the lower performance for the cumulative period was due to lower billings from the Upper East @ Tiger Lane project, and higher marketing costs incurred for the early stages of Phase 1 of the Ampang Ukay project.

The lower quarterly and annual DPU figures are mainly due to Keppel’s pro-rata preferential offering with the acquisition of Keppel DC Singapore 3 (KDC SGP 3).

Sime Darby Property said customers who purchase selected properties are entitled to receive a rebate of RM8,888 on the initial 10% down payment.