News about WCT

KUALA LUMPUR (Feb 6): WCT Holdings Bhd (KL:WCT) has proposed a sukuk wakalah programme of up to RM5 billion to fund working capital and refinancing of borrowings.

Quarterly revenue, however, rose 10.

The Engineering and Construction segment continued to be the main contributor to group revenue, accounting for RM248 million, or 45% of total quarterly revenue, while Property Investment & Management added RM64 million, supported by higher contributions from hotels and the aviation division.

Buyers may opt for either conventional or Islamic financing, with flexible repayment terms of up to 10 years or until the age of 70.

“Some parties have already approached us, and we have also identified certain malls.

The trust is expected to offer an annualised distribution yield of over 7% for 2025.

The IPO, indicatively priced at RM1 per share, comprises retail and institutional offerings, according to the prospectus unveiled on Friday.

The downward revision in forecasts is mainly driven by the potential review of the Subang Airport Regeneration Plan (SARP), following the takeover of Malaysia Airports Holdings Bhd (MAHB) by the Gateway Development Alliance consortium.

As part of the proposed listing of Paradigm REIT, shareholders also approved the proposed disposal of three prime retail properties — Bukit Tinggi Shopping Centre (BTSC), Paradigm Mall Petaling Jaya (PMPJ) and Paradigm Mall Johor Bahru (PMJB) — to Paradigm REIT for RM2.

The rating agency noted that with around 380,000 sq ft of net lettable area, the mall’s occupancy rate has reached 96.