News about capital

In a note on Friday, the research house said Kerjaya’s current outstanding order book stands at RM4.

In February this year, CLMT acquired three prime freehold ready-built factories in Nusajaya Tech Park in Iskandar Malaysia from Nusajaya Tech Park Sdn Bhd for a total RM27 million, marking the trust's entry into the industrial market, as it diversified its geographical footprint to Johor.

"This resilience is partly due to increased disposable income from EPF Account Three withdrawals, which has helped mitigate some living cost pressures,” said Tan Choon Siang, the chief executive officer of the trust's manager, CapitaLand Malaysia REIT Management Sdn Bhd.

CLMT attributed the improved earnings mainly to contribution from Queensbay Mall, which it acquired in March 2023, and better performances of Gurney Plaza, Sungei Wang Plaza, 3 Damansara and Valdor Logistics Hub.

LSH Capital said that its subsidiary, LSH BEST Builders Sdn Bhd, and Service Master (M) Sdn Bhd formed LSHBB-SMMSB JV, which received a letter from the Public Private Partnership Unit, Prime Minister’s Department (UKAS) on June 7, informing them of the government's agreement in principle for the operation and maintenance management of KL Tower.

Suria Capital said the Jesselton Docklands 1 project is anticipated to be completed within six years from the unconditional date of the agreement.

The research house said Kerjaya’s new order wins would remain largely from internal projects, comprising circa 60% of its RM1.

So far this year, CLMT has gained 17%, sharply outperforming its peers, buoyed by potential earnings contributions from its newly-acquired industrial properties.

The proposed diversification is expected to boost the group’s net profit by about 25%, aligning with its long-term strategy to pursue more engineering, procurement, construction and commissioning (EPCC) projects beyond telecommunications network projects, the group said in an exchange filing.

“This partnership aims to create a robust infrastructure that supports its long-term vision for the region’s growth and development while incorporating sustainable elements within an ESG framework.