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In a bourse filing Jan 22, Hua Yang said its third quarter net profit declined 73.5% to RM1.53 million from RM5.77 million a year earlier. Its revenue, however, rose to RM72.53 million against RM68.42 million previously.

“For the suburban Klang Valley malls, anchor tenants are key.”

The steel products manufacturer said the 3.48 million sq ft land, currently owned by Kapar Holding Sdn Bhd, is situated at the proximity of the group’s present plant and office in Kapar.

"The disposal provides an opportunity for the company to realise its non-core capital investment to better re-allocate its capital resources."

The rate changes will take effect from next Thursday (Jan 30), the bank said in a statement yesterday.

TSR Capital said this is the second disposal of property by the group since August 2019, and forms part of its assets rationalisation plan to monetize its investments in property assets.

Revenue for the year dipped 2.2% to RM342.28 million against RM350.15 million a year ago, owing to lower occupancies at The Mines (TM) and Sungei Wang (SW), as well as lower rental rates at TM and downtime from asset enhancement initiative (AEI) at SW and TM, CMMT said in a bourse filing.

During cross-examination in his SRC International Sdn Bhd trial, Najib said he believed that all the monies he spent from his AmBank account between 2011 and 2015 originated from donations.

During cross-examination with ad-hoc prosecutor Datuk V Sithambaram, Najib said he removed Nik Faisal from the post following complaints by SRC's chairman at the time, Tan Sri Ismee Ismail, that he was not a man of integrity.

Zerin Properties has refuted the claim made by CBRE|WTW managing director Foo Gee Jen last week that should prices not correct substantially, it will take the next five years to clear unsold stocks of SOHOs and SOVOs.