News by Sufi Muhamad

KIP Real Estate Investment Trust’s (KIP REIT) net property income rose 5.35% to  RM15.15 million for the second quarter ended Dec 31, 2022 (2QFY2023), from RM14.38 million a year earlier, contributed by 18 days of lease income from its three newly acquired industrial properties in Pulau Indah.

Standard Chartered (StanChart) expects Bank Negara Malaysia (BNM) to increase the overnight policy rate (OPR) by 25 basis points to 3.0% during its monetary policy meeting this coming Thursday, reversing the Covid-induced rate cuts.

The banking facilities — a form of financial assistance by the bank — was to finance the proposed development of a block of 293 service apartments known as Penang East Service Suite in Bagan Jermal, Butterworth Penang.

Delapan SBEZ — of which Northern Gateway is the master developer — features a free commercial and industrial zone located at the northern end of the North-South Expressway and the Malaysia Federal Route 1, with an access to the Bukit Kayu Hitam Inland Port.

RHB Research has turned "overweight" on the property and real estate sector, as the interest rate upcycle is expected to slow down in the first and second quarters of 2023 (1Q-2Q2023) amid lower political uncertainties.

However, the date of payment has yet to be decided.

Tiong Nam Logistics Holdings has entered into a joint venture (JV) agreement with Johor Corp to develop a high-tech logistics industrial park on a 300-acre land at Sedenak Technology Valley, Johor.

Depending on the steelmaking route, both steelmaking and rolling processes consume up to 650 kWh electricity to produce one tonne of steel product. 

Samaiden Capital Management Sdn Bhd will operate and maintain the system, which has a capacity of 531 kilowatt-peak (kWp) for a duration of 20 years.

The subcontract is valued at RM10.05 million and is expected to be completed on June 30, 2023.