News by syafiqah Salim

YTL Hospitality Real Estate Investment Trust (YTL Hospitality REIT) is acquiring Hotel Stripes Kuala Lumpur, Autograph Collection for RM138 million cash, in a related party transaction (RPT).

The placement involves the issuance of up to 110.07 million new shares, representing not more than 20% of the group’s issued share capital, to independent investors to be identified later.

Lion Industries Corp Bhd is selling two parcels of land, measuring 26.787 acres in Kawasan Perindustrian Olak Lempit, Banting, for RM92.03 million in cash.

Kerjaya Prospek Group Bhd has secured a RM125.02 million contract from a subsidiary of UEM Sunrise Bhd for a proposed phase two development project at Taman Equine in Bandar Putra Permai.

Tropicana Corp Bhd returned to the black in the second quarter ended June 30, 2023 (2QFY2023) with a net profit of RM305,000 or 0.02 sen per share, versus a net loss of RM61.55 million or 3.74 sen per share a year earlier.

IOI Properties Group Bhd closed its financial year ended June 30, 2023 (FY2023) with net profit doubling to RM1.39 billion from RM686.74 million in FY2022, thanks to a 26% increase in operating profit in its property investment portfolio and a fair value gain that contributed RM716.8 million, while revenue was largely unchanged at RM2.59 billion.

This is the second issuance under the sukuk programme.

Sunway Real Estate Investment Trust (Sunway REIT)’s net property income (NPI) for the second quarter ended June 30, 2023 (2QFY2023) increased by 8.7% to RM116.18 million from RM106.89 million a year earlier, primarily driven by its hotel, retail, services as well as industrial and other segments. 

Hextar Technologies Bhd (HexTech) has agreed to terminate the deal to sell two parcels of land measuring a total of 235,213 sq ft, located in Pasir Gudang and Klang, to SWS Capital Bhd for RM23.66 million.

Country Heights Holdings Bhd, the property developer founded by tycoon Tan Sri Lee Kim Yew, has defaulted on the payment of Islamic term financing facilities totalling RM89.67 million provided by MBSB Bank Bhd.