On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.
The project includes four business blocks, one serviced apartment block, and a six-level podium parking structure with residential facilities.
The transit-oriented development project will add 19% to MRCB’s total remaining gross development value (GDV), for it to reach RM38.
Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May shared that the REIT is currently in closed talks with potential acquisition targets valued at RM300 million with heavy inclination towards industrial.
Malaysia offers a more competitive environment compared to Singapore while still providing easy access to Singapore's financial and professional resources.
The RM456 million project has faced several delays, with the previous targeted operational date being Jan 31 this year.
The cautious stance comes as the central bank on Wednesday decided during its first monetary policy meeting of the year to hold the benchmark rate steady at 3%, a move unanimously expected by the market.
The real estate investment trust (REIT) announced a distribution of 1.
“We have been actively managing our balance sheet to create room for acquisitions and if we have a choice, we would be keen to deploy some of our capital again in the industrial and logistics area,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.
“At the current OPR level, the monetary policy stance remains supportive of the economy, and is consistent with the current assessment of inflation and growth prospects,” BNM said.
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