News by TheEdgemarkets.com

Civil engineering group Sarawak Consolidated Industries Bhd (SCIB) said it has withdrawn from proposed engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project in Johor Bahru.

RHB Investment Bank Research has maintained its "neutral" call on the construction sector, after considering the risks in public infrastructure projects, but advocated that contractors focus on newer projects, such as data centres and industrial jobs.

Industrial mold manufacturer MQ Technology Bhd (MQ Tech) has proposed to diversify into property development.

The Federal Court had on Friday (Jan 20) in a landmark decision ruled that for any hill top or hill slope development projects which are designated as environmentally sensitive in a development plan, approval has to be gained from the National Physical Planning Council (NPPC) as stipulated under Section 22(2A)(c) of the Town and Country Planning Act 2001 (TCPA).

Although Bank Negara Malaysia (BNM) unexpectedly kept interest rates on hold at its Jan 19 meeting, Fitch Solutions maintained its forecast that the overnight policy rate will be raised to 3.25% over the coming months. 

Automotive, rail and industrial part maker Kumpulan Jetson Bhd has proposed to dispose of a 1.62-hectare industrial land in Gombak, with a factory complex built on it, for RM35 million.

Axis Real Estate Investment Trust (Axis REIT)’s net property income (NPI) for the fourth quarter ended Dec 31, 2022 (4QFY2022) rose 12.71% to RM61.96 million from RM54.98 million a year ago, on the back of income from new acquisitions, new tenancies from existing properties, and positive rental revisions.

CapitaLand Malaysia Trust is “slightly optimistic” that its portfolio occupancy rate would sustain its recovery momentum going into 2023 despite a challenging macroeconomic condition.

IGB Real Estate Investment Trust’s (REIT) net property income (NPI) for the fourth quarter ended Dec 31, 2022 (4QFY2022) rose 12.79% to RM105.64 million from RM93.66 million a year ago, as revenue increased 24.59% to RM148.72 million from RM119.37 million.

Sheng Tai International Sdn Bhd (STI) launched The Sail Experiential Centre on Jan 14. The experience centre is the first phase of its mixed-use development, The Sail Melaka in Kota Laksamana, Melaka.