Dubbed the “VD TBM 2.0”, the 6.6m diameter machines were constructed by German tunnelling expert Herrenknecht AG’s Chinese subsidiary — Guangzhou Herrenknecht Tunnelling Machinery Co Ltd.

Although the group is in diversification mode, the construction division will remain its core business.

The sharp increase in DC rates for the non-landed residential and commercial use groups is owing to the buoyant investment markets in the two segments, according to Cushman & Wakefield.

Currency market movements can have a significant impact not only on the return provided by an overseas asset, but also on the flow of international capital into property markets, said global property consultancy Knight Frank.

Sold for: RM290,000 (RM341 psf); Concluded by Raymond Yii (REN 20381) of BT Properties (011-3315 4820); When: March 2017

Following the issuance, FCT holds 31.15% in Hektar REIT.

Titijaya said the increase in net profit was mainly attributed to the group's completed projects during the financial year, namely 3Elements, Seri Alam Phase 1 & II, Zone Innovation Park and progressive recognition from project H2O.

It said in a statement to Bursa Malaysia yesterday that it has yet to submit any application to Securities Commission Malaysia for its approval to establish the REIT.

Works on the job are expected to start on Sept 12, to be completed in nine months.

In a filing to Bursa Malaysia yesterday, the company said it recorded a lower fair value gain on investment properties of RM1.6 million against RM123.01 million in 4QFY16.