Contract is for a period of three years.

“The tests and trial runs will not involve members of the public as we have to be absolutely sure that everything works fine before we open the line to the public.”

TRX City Sdn Bhd (formerly known as 1MDB Real Estate Sdn Bhd) saw a net profit of RM380.6 million in the financial year ended March 31, 2015 (FY2015). But it could have been a lot less had it not been for the income from the relocation of the Kuala Lumpur Air Force base (Pangkalan Udara Kuala Lumpur or PUKL).

"We are seeing an unnatural increase of rental at [the] George Town Unesco site and the tenants had been complaining that they had suffered more than 500% hike in rental for several years, which had forced them out, leaving their business."

SGREIT recently announced a FY16 revenue of S$219.7 million (RM661.8 million), net property income (NPI) of S$170.3 million, as well as a DPU of 5.18 cents.

The new site, which will be released to the market in 2017 with pre-lease, turnkey and land sale opportunities, complements Frasers Property Australia’s previously developed 100ha Eastern Creek Industrial Estate.

MRT Corp chief executive officer Datuk Seri Shahril Mokhtar said 86% of the first phase of the line has been completed, with trial runs to start in October.

According to SEB’s filing yesterday, Scomi Coach Sdn Bhd, a wholly-owned unit of Scomi Transportation Systems Sdn Bhd, which is SEB’s wholly-owned subsidiary, together with SEB inked a sale and purchase agreement and a leaseback agreement with Axis REIT.

The exchange rate of the local currency does not fare well in the low crude oil price environment.