News by M

IOI Prop derives recurring income from investment properties by leasing out office buildings and retail space.

The Malaysian Investment Development Authority (Mida) and Malaysian Green Technology Corp (GreenTech Malaysia) have teamed up to introduce investment tax allowance (ITA) for the purchase of green technology equipment or assets. They have also introduced income tax exemption (ITE) for green technology service providers.

Gamuda said all terms and conditions of the LoA remain unchanged.

The subcontract from Lebuhraya Borneo Utara Sdn Bhd is for the development and upgrading of the stretch of highway between Batang Skrang and the Sungai Awik Bridge.

KLCCPSG reported a profit after tax and minority interest of RM360.6 million for 1HFY16, a 0.6% growth y-o-y, coming in within our and the consensus expectations, making up 48% of forecasts.

The property will be leased back to SCBC for a fixed long-term lease of 15 years, with a 10% step-up in rental rates (starting from RM281,000 per month) after every three years and a renewal option for another five-year term after the lease expires.

MQREIT declared a dividend of 4.23 sen for the first half of FY16 ended June 30, 2016 (1HFY16), compared with 4.1 sen for 1HFY15, going ex on Aug 16, 2016, representing an annualised yield of 7.05% at a payout ratio of about 91.4%.

Tadmax Resources Bhd managing director Datuk Seri Anuar Adam, a retired major of the Malaysian army, will focus on transforming the loss-making company into a property and power generation player after cleaning its books for the past five years.

Sunway Bhd’s real estate arm Sunway Property is setting up a regional office and sales gallery in the northern state of Malaysia, Penang, which is scheduled for completion in April 2017, the developer said in a statement yesterday.

IJM Land Bhd will be launching the second phase of Rimbun Vista (3A2) at S2 Heights, Seremban 2 later this September, said its managing director Edward Chong.