News by Sufi Muhamad

Hong Leong Investment Bank (HLIB) Research said property developers with projects in Singapore could experience resilient local demand despite the new rate for the republic's Additional Buyers’ Stamp Duty (ABSD).

IGB Real Estate Investment Trust (IGB REIT), which operates the Mid Valley Megamall and The Gardens Mall here, posted a net property income of RM118.56 million for the first quarter ended March 31, 2023 (1QFY2023), up 10% from RM107.71 million in the same quarter a year ago, as the REIT recorded higher rental income.

Property developer Radium Development Bhd, en route to a Main Market listing on May 31, has set a price of 50 sen per share for its initial public offering (IPO) exercise that will raise RM434 million.

Menang Corp (M) Bhd, which was issued an unusual market activity (UMA) query earlier on Wednesday (April 26), said ongoing talks to build a digital hub in Negeri Sembilan, as well as potential land acquisitions in the state and Klang, Selangor, could be the reasons behind the surge in its share price and volume.

MARC Ratings has assigned the final ratings of AIS(cg)/MARC-1IS(cg) to SkyWorld Capital Bhd’s RM300 million Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes with a stable outlook.

Property development and management company Menang Corp (M) Bhd was issued an unusual market activity (UMA) query by Bursa Malaysia on Wednesday (April 26) due to a sharp rise in its share price and trading volume recently.

Bok Yu is the son of SHH Resources founder and managing director Datuk Teo Wee Cheng, who along with his wife Datin Teo Chan Huat, are major shareholders in the group with a combined stake of 17.28%.

Pavilion Real Estate Investment Trust (REIT)’s net property income rose 11.5% to RM104.8 million in the first quarter ended March 31, 2023 (1QFY2023) from RM93.99 million in the same quarter a year earlier, as it reported stronger revenue thanks to higher rental income due to increased occupancy, rent revenue, and advertising and marketing income at its retail malls.

Crowne Estate Malaysia has partnered with French hospitality group Accor to open Swissôtel Genting Highlands, set to launch in the third quarter of 2028.

... and keep the green lung as a city park.