The Malaysian property auction market saw 6,274 properties worth about RM2.37 billion going under the hammer in 2Q2016. This works out to an average 2,090 properties a month, according to data compiled by AuctionGuru.com.

Its president and chief executive officer Datuk Khor Chap Jen cited global uncertainty, especially in the aftermath of Brexit, and continued weak sentiment in the Malaysian property market for the downward revision.

Overall growth in distributions per unit (DPU) for the Singapore REIT industry remained fairly stable, declining 0.1% during the quarter, compared with 2Q2015.

Revenue dropped 12.5% to RM88.7 million in 2QFY16 from RM101.4 million a year ago, its bourse filing today showed.

On its prospects, WCT said it is confident of achieving satisfactory results for FY16.

Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh said the group withstood the challenging market conditions and exceeded its KPI targets for FY16, despite the uncertainties caused by commodity price volatilities and the economic situation in its key markets.

Malaysian Resources Corp Bhd (MRCB) has partnered with the Malaysian Institute of Estate Agents (MIEA) to enhance the branding of MRCB’s property products.

Sime Darby said the proceeds from the placement will improve the group's liquidity through the repayment of a substantial portion of the group's borrowings, which will result in interest savings.

A wholly-owned subsidiary of Yongnam Holdings is buying three parcels of industrial land in Johor for RM46.7 million.

“Barring any adverse developments, the group will endeavour to achieve satisfactory performance in 2016.”