KUALA LUMPUR: The yields from real estate investment trusts (REITs) will remain at current levels, even if the overnight policy rate (OPR) is increased again by year-end.

SINGAPORE: CapitaLand Ltd, Southeast Asia’s biggest developer, said second-quarter profit rose 14% as it posted higher earnings from its key businesses and recorded gains from investment properties.

Axis Real Estate Investment Trust
(Aug 5, RM3.46)
Maintain buy with target price of RM3.60: Axis REIT’s net income for the second half ended June of financial year 2014 (2HFY14) was 48% of our FY14 estimate. Revenue was flat quarter-on-quarter (q-o-q) while net property income margin inched up by one percentage point q-o-q to 85% due to lower property expenses.

Gamuda Bhd
(Aug 5, RM4.84)

KUALA LUMPUR: Gamuda Bhd plans to acquire the entire stake in Salak Land Development Sdn Bhd for RM784.328 million cash as it hopes to gain ownership of the latter’s 619ha tract of land located right next to Expressway Lingkaran Tengah (Elite Highway).

KUALA LUMPUR: Bina Puri Holdings Bhd has secured a contract to build a hostel for Universiti Malaysia Sabah for RM115.42 million.

In an announcement to Bursa Malaysia yesterday, Bina Puri said its unit, Bina Puri Sdn Bhd, had accepted a letter of award from Arkitek TM on behalf of its employer, Likas Bay Precinct Sdn Bhd.

KUALA LUMPUR: Amcorp Properties Bhd posted a net profit of RM117.7 million for the first quarter ended June 30, a 57% jump from RM11.2 million registered in the previous corresponding period.

Revenue rose to RM40.7 million, from RM32.5 million previously.

The increase in net profit was contributed by the group’s Malaysia and London properties.

KUALA LUMPUR: Axis Real Estate Investment Trust Managers Bhd (Axis REIT) has proposed to acquire three properties for RM280.5 million cash from three separate parties — Great Avenue (M) Sdn Bhd, Exceptional Landmark Sdn Bhd and Able Heights (M) Sdn Bhd.