News by Vasantha Ganesan

Lee Rubber Co (Pte) Ltd, a Singapore-based rubber company that has a long established presence in Malaysia, has put out a request for bids for a 1.81-acre parcel in Jalan Raja Chulan, Kuala Lumpur, which it owns. It is the third piece of land in the prime area to be put up for sale in the past seven months.

The government is considering disposing of a prime 11.04-acre tract near the Bukit Bintang area, where Kompleks Kraftangan is located.

Real estate investment company Pelaburan Hartanah Bhd (PHB), which has commercial assets and land worth over RM5 billion, is planning to sell close to 790 acres of land it owns in Ulu Bernam, Selangor, documents obtained by The Edge show.

CAP Square Tower in Jalan Munshi Abdullah, Kuala Lumpur, has a new owner.

Hotels are struggling to fill their rooms due to a high supply coupled with the economic slowdown and less government and corporate business. And most hoteliers do not see this problem going away anytime soon.

Hong Kong-based Malaya Acid Works Sdn Bhd is putting a 17.26-acre land parcel it owns along the Federal Highway in Petaling Jaya on the market for an estimated RM300 million or RM400 psf.

A dramatic increase in retail space per capita, delays in mall openings, closures of malls and malls put up for sale are signs of the oversupply situation.

Hypermarket operator Tesco Stores (M) Sdn Bhd, which posted two consecutive years of losses, expects its performance to improve this year as its three-year transformation plan kicks off and begins to bear fruit.

Asian Retail Mall Fund II (ARMF), which owns the SStwo Mall in Petaling Jaya, is believed to be seeking a buyer for the retail asset as an earlier plan to redevelop the site has been shelved.

WHEN KK Group saw sales at many of its 24-hour KK Super Mart convenience stores and KK Kopitiam surge last weekend, it could not immediately put a finger on what was going on. But, soon enough, the company realised that the latest online gaming craze, Pokémon Go, was contributing to a jump in store traffic and sales.