Genting Malaysia issues RM500m MTNs to fund development of Genting Highlands, working capital
Genting Malaysia Bhd via its wholly owned subsidiary GenM Capital Bhd has issued medium-term notes (MTNs) of RM500 million across three tranches.
Winners and losers of Bank Negara’s latest OPR rate hike to 3%
The banking sector emerged a winner, while the property and real estate investment trust (REIT) sectors were the unfortunate recipients of Bank Negara Malaysia’s (BNM) surprise move to increase the overnight policy rate (OPR) by 25 basis points (bps) to 3% on May 3, 2023.
OPR to remain on hold at 3% for the rest of 2023, Fitch Solutions says
Fitch Solutions sees Bank Negara Malaysia (BNM) at the end of its hiking cycle, leaving the overnight policy rate (OPR) on hold at 3% for the rest of 2023.
CGS-CIMB sees another hike in 2H2023, bringing the OPR to 3.25%
While most economists see no further overnight policy rate (OPR) hikes by Bank Negara Malaysia for the remaining three monetary policy meetings in 2023, CGS-CIMB Research sees the possibility of another increase in the second half of this year.
OPR normalisation to pre-pandemic level of 3% likely to remain till end-2023, say economists
Economists positively viewed Bank Negara Malaysia's (BNM) surprise hike in the overnight policy rate (OPR) by 25 basis points to 3% on Wednesday (May 3), as they considered the move an indication of the domestic economy's resilience.
Chin Hin and Ivory Properties to develop Crown Penang, to launch in 2Q2024
Chin Hin Group Property Bhd, via its subsidiary Stellar Platinum Sdn Bhd, signed a joint development agreement (JDA) with Ivory Properties Group Bhd, via its wholly-subsidiary Ivory Meadows Sdn Bhd, to develop the RM475 million Crown Penang, which is targeted for launch in 2Q2024. This will be Chin Hin’s first foray into Penang
AWC’s unit bags RM7.17m job for sanitary fittings, plumbing works
AWC Bhd has won a sub-contract worth RM7.17 million for works related to cold water, hot water, rainwater harvesting, sanitary plumbing and the installation of sanitary fittings and ware works for a seven-storey block of luxury apartments in Bukit Damansara, Kuala Lumpur.
UOA REIT posts weaker earnings on lower occupancy, higher expenditure
UOA Real Estate Investment Trust (REIT)’s first quarter net profit fell 8.8% amid a decline in occupancy rate at its older buildings, coupled with an increase in expenditure, driven by higher electricity and borrowing costs.
Astino buys Klang land for RM60.16m to expand operations
A wholly-owned company of flat steel products manufacturer Astino Bhd is buying a 884,703 sq ft piece of land in Selangor for RM60.16 million to undertake its expansion programme.
Sunway REIT’s 1Q NPI rises 16% to RM138m driven by retail segment
Sunway Real Estate Investment Trust's (Sunway REIT) net property income (NPI) for the first quarter ended March 31, 2023 (1QFY23) rose 16.3% year-on-year (y-o-y) to RM138.31 million from RM118.92 million driven by its retail segment.
