News by TheEdgeMarkets.com

Pavilion Real Estate Investment Trust, which is still in the midst of discussion to buy Pavilion Bukit Jalil mall from Malton Bhd, posted a higher net property income (NPI) of RM90.22 million in the third quarter ended Sept 30, 2022 (3QFY22).

KIP Real Estate Investment Trust's (REIT) net property income for the first quarter ended Sept 30, 2022 (1QFY23) grew 4.8% to RM14.33 million, up from RM13.67 million a year ago, mainly due to low base effect as operations were affected by Covid-19 lockdowns last year.

CapitaLand Malaysia Trust's (CLMT) net property income (NPI) for the third quarter ended Sept 30, 2022 (3QFY22) swelled two-fold to RM38.21 million from RM18.57 million a year prior, in line with higher revenues across all its properties.

Real estate developer Jiankun International Bhd has entered into a joint development agreement (JDA) with NTL International Holdings (M) Sdn Bhd, a freehold land owner in Semenyih, to develop a serviced apartment with a gross development value of RM215.1 million — more than three times Jiankun’s current market value.

Parkson said Mianyang Fulin Parkson Plaza Co Ltd received a successful bidding notice on Tuesday (Oct 25) confirming that it had won the bid in the tender for tenancy of part of LG1, and levels one to four of buildings on the east side of Chuan Ye Da Dao, Mianyang Science and Technology City New District.

Kerjaya Prospek Group Bhd said a consortium comprising its unit and Samsung C&T Corp has bagged a contract from Texas Instruments Electronics Malaysia Sdn Bhd to build a factory in Melaka for RM1.45 billion.

Malaysia and Singapore have completed the upgrading of the electricity interconnector between both countries to enable mutual energy transfer in times of power outage, Singapore's Energy Market Authority (EMA) said in a statement on Wednesday (Oct 26).

Oriental Interest Bhd (OIB) recorded a more than five-fold jump in net profit to RM27.64 million or 5.95 sen per share for the fourth quarter ended Aug 31, 2022 (4QFY22), from RM5.12 million or 1.37 sen per share in the previous year’s corresponding quarter.

Advancecon Holdings Bhd’s 51%-owned indirect subsidiary Spring Energy Sdn Bhd (SESB) is disposing of a piece of land in Kedah to plastic packaging manufacturer Thong Guan Industries Bhd for RM34 million or RM9.95 per sq ft.

Property developer Tanco Holdings Bhd has proposed to raise RM100 million through an allotment of 100 million redeemable preference shares (RPS) of RM1 each to the Social Security Organisation (Socso).