News by Wong Ee Lin

Manager IGB REIT Management Sdn Bhd will continue to strengthen the REIT’s performance by proactively exploring asset enhancement initiatives for both the Mid Valley Megamall and The Gardens Mall.

IGB Real Estate Investment Trust’s (REIT) posted a 2.6% increase in net property income for the first quarter ended March 31, 2017 (1QFY17) at RM96.06 million, from RM93.62 million a year earlier, on higher rental income.

Gadang Holdings Bhd posted a slight increase of 3% in net profit for the third quarter ended Feb 28, 2017 (3QFY17) to RM25.79 million, from RM25.11 million a year earlier, largely on higher contributions from the property division.

I-Bhd posted a 21% rise in net profit for the first quarter ended March 31, 2017 (1QFY17) to RM18.59 million from RM15.36 million a year earlier, as contributions from its property development segment improves.

Ekovest Bhd has bagged a RM79 million contract from the Kuala Lumpur City Hall (DBKL) to develop the Blue River Project, which is located in the vicinity of the River of Life Precinct 7 — Masjid Jamek Kuala Lumpur Zone here.

WCT Holdings Bhd proposed a share dividend on the basis of one treasury share for every 165 existing units to reward the construction firm's shareholders.

Low Peck Chen, chief executive officer of CapitaLand Malaysia Mall REIT Management Sdn Bhd, which is the manager of CMMT, explained that the scheduled completion of new retail supply, especially in the Klang Valley area, will intensify the competition level among shopping malls.

Bintai Kinden Corp Bhd has bagged a S$14.2 million (RM44.94 million) contract to undertake subcontract works, including maintenance for mechanical and electrical works at the existing Raffles Hotel and Shopping Arcade in Singapore.

Sime Darby Bhd clarified yesterday that it could not meet the deadline to complete the reverse takeover of Singapore-listed Saizen Real Estate Investment Trust because circulars to Saizen REIT’s unitholders were not issued on time.

UEM Sunrise Bhd's wholly-owned subsidiary UEM Sunrise (Canada) Alderbridge Ltd (UEMS Alderbridge) plans to sell three parcels of land in the District of New Westminster, Richmond, British Columbia, Canada, with a total area of 4.9 acres to 1107782 B.C. Ltd, a wholly-owned subsidiary of South Street Development Group for RM372.57 million.