News about property development

Real estate investment trust sector Maintain neutral: We maintain “neutral” rating on the real estate investment trust (REIT) sector given the general oversupply situation but this should be offset by the appeal of REITs given the current uncertain equity markets.

KAJANG (June 25): Keretapi Tanah Melayu Bhd's (KTMB) RM6 billion property development projects planned on three parcels of land at the Klang, Shah Alam and Bangi KTM stations were delayed due to the longer-than-expected tendering process between KTMB and Railway Assets Corp (RAC), said KTMB CEO Mohd Rani Hisham Samsudin.

SHAH ALAM (June 21): Residents of Bukit Bayu in Section 10, Shah Alam are trying to halt a potential development in an estimated five to six hectares (12 to 15 acres) of forested area in Bukit Cerakah.

KUALA LUMPUR (June 19): Y&G Corp Bhd has withdrawn plans to buy two adjacent parcels of freehold land totalling 23.

PETALING JAYA (JUNE 4): Indonesia commercial property developer Mulia Group, who owns 49% of the Exchange 106 office building at Tun Razak Exchange (TRX) in Kuala Lumpur, is seeking guidance from the new Malaysian government on the project.

KUALA LUMPUR (May 23): Hua Yang Bhd’s net profit for the fourth financial quarter ended March 31, 2018 (4QFY18) shrank 68% to RM3.

PETALING JAYA (May 17): Although the imposition of the zero-rated Goods and Service Tax (GST) came earlier than expected, Maybank Investment Bank views the latest announcement by the new Pakatan Harapan (Pakatan) led government as a positive move which could spur the earnings growth of the property development industry.

KUALA LUMPUR (April 27): OCR Group Bhd has entered into a share sale agreement with Singaporean Choo Peng Hung to dispose its entire equity stake of 100% in Takaso Industries Pte Ltd (TIPL) for RM4.

KUALA LUMPUR (April 10): Pasukhas Group Bhd saw 38 million shares, representing a 4.

KUALA LUMPUR (April 9): Symphony Life Bhd (SymLife) has proposed to undertake a one-for-one rights issue to raise up to RM146.