AmFirst REIT CEO to step down on July 27
KUALA LUMPUR (April 26): AmFirst Real Estate Investment Trust (AmFirst REIT) chief executive officer (CEO) Wong Khim Chon will be stepping down from his post on July 27.
LB Aluminium to buy Subang Jaya industrial property for RM25m
KUALA LUMPUR (Apr 25): LB Aluminium Bhd is acquiring a piece of industrial land together with an industrial complex in Sungai Penaga Industrial Park, Subang Jaya, Selangor for RM25 million cash.
WeWork expands into Indonesia with two upcoming locations
SINGAPORE (April 25): New York-based co-working operator WeWork announced on April 24 that it will be entering the Indonesian market with the opening of two co-working offices by 3Q2018.
UEM Sunrise to hand over new Mont’Kiara condominium project by June 2019
KUALA LUMPUR (April 25): Property developer UEM Sunrise Bhd expects to hand over the keys to buyers of its Residensi Sefina Mont’Kiara condominium development in Mont’Kiara here, which has a gross development value of RM307 million, by June next year.
CMMT posts lower 1Q NPI on lower contribution from Klang Valley malls
KUALA LUMPUR (April 25): Capitaland Malaysia Mall Trust's (CMMT) net property income (NPI) fell 4.
Sarawak Consolidated calls off deal to buy IBS factory owner
KUALA LUMPUR (April 25): Sarawak Consolidated Industries Bhd has terminated its share sale agreement (SSA) to acquire an industrialised building system (IBS) factory owner and operator Carlton Gardens Sdn Bhd for RM9.
Consortium Zenith threatens to sue over fake Penang tunnel news
KUALA LUMPUR (April 25): The main contractor of the Penang undersea tunnel project has threatened to sue any party spreading fake news about it and the project via social media and other channels.
REIT managers say SC's REIT guideline amendments will drive market's growth
KUALA LUMPUR (April 24): The liberalisation in the permissible list of activities provides alternative growth opportunities to Malaysian Real Estate Investment Trusts (M-REITs) in the areas of acquiring vacant land to undertake property development activities, acquisition of assets with provision of income support and investments through private leases, said the Malaysian REIT Managers Association (MRMA).
Gadang expects FY18 to end on weaker note as 3Q profit slips
KUALA LUMPUR (April 24): Gadang Holdings Bhd expects its current financial year ending May 31, 2018, to end on a weaker note from the previous year, due to what it termed "sluggish market condition" of the property sector.
KIP REIT looking to diversify into logistics assets
KUALA LUMPUR (April 24): KIP Real Estate Investment Trust (REIT) is looking to diversify upstream into logistics or warehouse assets, said KIP REIT Management Sdn Bhd managing director Datuk Chew Lak Seong.
