Real estate investment trust (REIT) prices rose in early trades on Bursa Malaysia yesterday following Bank Negara Malaysia’s move to cut the overnight policy rate (OPR), but pared gains in the afternoon.
HLIB analyst Lee Meng Horng said the OPR cut will bode well for M-REITs, as monetary easing spurs equity inventors to move into yield assets which are often sought after by investors during monetary easing due to its stability and high yielding nature, despite its average yield being compressed to 6.2%.
Originally targeted for July, EWI president and chief executive officer Datuk Teow Leong Seng said the slight delay was due to EWI's need to obtain approval from Securities Commission Malaysia (SC) to enlist a co-anchor for the listing.
MMC Corporation Bhd and its partner in the Klang Valley Mass Rapid Transit (KVMRT) project are being sued for over RM300 million for an alleged breach of contract relating to a land acquisition for the project.
Sime Darby Bhd said last Friday that the results of the UK’s referendum to exit the European Union (EU) will not impact the viability of the Battersea Power Station project.
Its chairman Tan Sri Isa Samad said the project will be a strategically placed development. The project is on 640.98 acres (259.4ha) of land, which is one of the largest parcels available in Melaka now.
Sapura Resources Bhd will channel proceeds from the sale of its education assets towards its RM1.5 billion property project near the Kuala Lumpur City Centre.
Allianz SE foresees a 30% to 40% risk that Brexit (Britain’s exit from the EU) will occur, according to the consensus.
Participants had a chance to win a total of 30 prizes, including the grand prize featuring an iconic yellow bicycle.
In FY15, Ho Hup’s net profit gained 8.15% to RM71.11 million, mainly due to the turnaround of its concrete mix division.
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