In a statement on Tuesday (Feb 22), NCT Alliance executive chairman and group managing director Datuk Seri Yap Ngan Choy said key contributors to the group's improved quarterly performance were the sales from its Grand Ion Majestic and Grand Ion Delemen (GID) projects, coupled with recurring income from the leasing of its commercial units at GID.

In a Bursa Malaysia filing on Tuesday (Feb 22), the group said the proposed acquisition is in line with the fund’s investment objectives and growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value (NAV) per unit of Axis REIT, by acquiring high-quality, earnings accretive properties with strong recurring rental income.

Noteworthy:

• Freehold

• Built-up: 3,300 sq ft

• Land size: 2,800 sq ft

• Six bedrooms, five bathrooms

• Semi-furnished

• Amenities: EkoCheras Mall, Cheras Leisure Mall, Sekolah Kebangsaan Taman Segar, 6-minute drive to MRT Taman Mutiara

When: November 2021

Standing on a 0.83-acre land, One Eleven Menerung is a single tower with 23 storeys. It consists of 111 units with a built-up that ranges from 1,001 sq ft to 3,714 sq ft. The price per sq ft from  RM1,800.

Some of these upgrading efforts include installing a brand-new escalator to improve navigation and traffic flow, the refurbishment of family rooms with adequate lighting, installing antibacterial flooring and an advanced air ventilation system that has air purifying properties.

In a press release on Tuesday (Feb 22), Kerjaya Prospek said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award (LOA) from Nikmat Merpati Sdn Bhd and that the project is expected to be completed in 53 months from its commencement date in June 2022.

The Grade II* listed building will house over 100 shops, restaurants and cafes, an events venue, a unique chimney lift experience offering 360-degree panoramic views of London’s skyline, new office space and 254 new residential apartments.

In a trading stocks note today, the research house said if the bullish momentum persists above that level, the stock may climb towards the next resistance level of 56 sen, followed by 59 sen.

"As the acquisitions are funded by internal funds, the group will not be exposed to credit risk. There are on-going projects undertaken by Mitrajaya Group to enable it to meet its financial obligations, hence the non-development of the properties will not pose a risk in cash flow management," Mitrajaya said in a bourse filing on Friday (Feb 18).

In a statement, Mah Sing chief executive officer of property subsidiaries Benjamin Ong said that the encouraging response from Erica Phase 1 showed that landed properties are still in high demand. It also proved that demand for affordably priced and good quality products in strategic locations will remain strong.