The telltale signs of a very hot spot
Securing a property with strong capital growth does not simply come by luck, but on training our sights on the signs of a soon-to-ripen harvest.
DONE DEAL: Retail lot at mezzanine floor, Ampang Point Shopping Centre, Selangor
Rented for: RM20,000 (RM8 psf) Concluded by: Michael S L Wong (REN 09493) of Dynamic Realtors (012-519 8688) When: December 2017 Noteworthy: ● 2,500 sq ft ● Mezzanine Floor of Ampang Point Shopping Centre ● Tenant invested RM100,000 for renovation ● Three-year fixed term with option to renew for another three-year term ● Location is central and surrounded by office crowds According to Michael S L Wong of Dynamic Realtors who concluded the deal, the tenant is none other than Cozy Corner Restaurant, formerly of Ampang Park Shopping Centre, which closed its doors on Dec 31 last year.
Property consultants expect positive effect from zero-rated GST measure
PETALING JAYA (May 17): With zero-rated Goods and Service Tax (GST) beginning next month, property consultants expect it to be a fresh lead that encourages purchasers to end the wait-and-see approach and make their buying decision.
Country Heights sells stake in healthcare unit to focus on property business
KUALA LUMPUR (May 17): Country Heights Holdings Bhd’s wholly-owned unit, Mines Holdings Sdn Bhd, is divesting a 5% stake in Country Heights Health Tourism Sdn Bhd (CHHT) for RM250,000.
Meda Inc seeks RM108.76m damages from PR1MA
KUALA LUMPUR (May 17): Meda Inc Bhd said its wholly-owned subsidiary Maju Puncakbumi Sdn Bhd had launched legal action against Perbadanan PR1MA Malaysia (PR1MA), claiming RM108.
Funding for TRX Lifestyle Quarter on the line
KUALA LUMPUR (May 17): Although previously close to securing between RM2 billion and RM3 billion worth of financing for its Lifestyle Quarter in the Tun Razak Exchange (TRX) development, TRX City Sdn Bhd and its joint-venture (JV) partner Lendlease Corp Ltd appear to be having difficulties locking down funding.
Ewein ups stake in Penang developer
KUALA LUMPUR (May 16): Ewein Bhd is increasing its stake in Ewein Zenith Sdn Bhd to 89% from 73%, as part of its plan to gain control in the Penang-based property developer, which is currently developing a luxury sea-front residential project worth RM800 million in gross development value.
S P Setia earnings expected to recover gradually this year
S P Setia Bhd (May 15, RM3) Maintain outperform with a target price (TP) of RM4.
Gabungan AQRS 1Q Patmi in line on higher project recognition
Gabungan AQRS Bhd (May 15, 88 sen) Maintain buy with a target price (TP) of RM2.
Matrix Concepts to jointly develop Islamic financial district in Jakarta
PETALING JAYA (May 15): Matrix Concepts Holdings Bhd today signed a Memorandum of Understanding (MoU) to jointly undertake the development of an Islamic financial district in Pantai Indah Kapuk 2 (PIK 2) Sedayu Indo City, Jakarta, Indonesia.
