News about TM

KUALA LUMPUR (July 29): Rental income from DaMen Mall and Intermark Mall, which Pavilion Real Estate Investment Trust (PavREIT) acquired at end-March, lifted the trust’s net property income (NPI) for the second quarter ended June 30, 2016 (2QFY16), by 13.

MALAYSIAN Industry-Government Group for High Technology (MIGHT), which is a unit of the Prime Minister’s Department, is in the midst of preparing a White Paper on how local rail companies can benefit from the large number of rail-related jobs being dished out and participate in the projects.

PETALING JAYA (July 27): The outlook for the property market in the second half of 2016 (2H2016) is expected to remain subdued, said Valuation and Property Services Department director-general Datuk Faizan Abdul Rahman at the Malaysian Property Summit Mid-Year Review 2016 today.

KUALA LUMPUR (July 26): Tabung Haji has indicated it will not sell the Tun Razak Exchange (TRX) land that it purchased from 1Malaysia Development Bhd (1MDB), as the pilgrimage fund sees long-term value in the piece of land.

REAL estate investment trusts (REITs), as prospective property buyers, not only provide a new source of deals but is also an avenue for banks to cut property-related lending exposure as developers raise cash from property disposals to relieve their stretched balance sheets.

KUALA LUMPUR (July 14): Hong Leong Investment Bank Research (HLIB Research) has upgraded Malaysian Real Estate Investment Trusts (M-REITs) to “Overweight”, following Bank Negara’s move to cut the overnight policy rate (OPR) by 25 basis points to 3% yesterday.

GEORGE TOWN (July 14): A civil society group has called for the introduction of trams and bus rapid transits (BRTs) in Penang, saying this would cost only a third of the amount that the state government intends to spend on building light rail transits (LRTs) and monorails as part of the Penang Transport Master Plan (PTMP).

MALAYSIAN real estate investment trusts (M-REITs) are touted as safe haven assets for investors seeking safety in dividend yields post-Brexit.

MALAYSIAN real estate investment trusts (M-REITs) may soon be allowed to put as much as 15% of their total assets into development projects and vacant land for development and are already positioning themselves for the liberalisation that is slated for the end of the year, industry sources say.

SEMENYIH (June 25): Eco Majestic’s Rumah Selangorku Open Day has attracted 500 interested buyers to its sales gallery in Semenyih today, with some of them waiting since 7am to get the front place, according to the developer Eco World Development Group Bhd (EcoWorld).