KUALA LUMPUR (Feb 26): TH Properties Sdn Bhd and Malaysian Resources Corp Bhd (MRCB), through a 70:30 joint-venture company named 59 Inc Sdn Bhd, officially launched serviced apartment Padang Residences on Monday, according to a press statement. Padang Residences is part of the RM3.09 billion Kota Semarak mixed development in Jalan Sultan Yahya Petra, Kuala…
Read MoreKUALA LUMPUR (Feb 24): Landmarks Bhd said a buyer has been found for its wholly-owned unit Andaman Resorts Sdn Bhd’s (ARSB) luxury resort, The Andaman, in Langkawi. The group said ARSB’s receiver and manager (R&M) Deloitte Restructuring Services PLT had entered into a binding agreement with Mutiara Hotels & Resorts Sdn Bhd on Monday for…
Read MoreKUALA LUMPUR (Feb 26): RHB Retail Research said Eastern & Oriental Bhd may extend its uptrend after undergoing a bullish breakout. In a trading stocks note on Monday, the research house said that the counter broke past the 93 sen resistance on the heel of strong volume — indicating bullish momentum is in play now….
Read MoreKUALA LUMPUR (Feb 23): Kerjaya Prospek Property Bhd’s net profit for the third quarter ended Dec 31, 2023 (3QFY2024) rose a marginal 1.65% to RM23.91 million from RM23.53 million a year ago, as higher costs compressed its margins. According to the property developer’s filing, quarterly revenue climbed 21.41% to RM99.32 million versus RM81.81 million previously,…
Read MoreKUALA LUMPUR (Feb 24): Property developer Titijaya Land Bhd has appointed former Kuala Lumpur mayor Datuk Seri Mahadi Che Ngah as its new independent non-executive chairman. Mahadi, 64, served as the 13th mayor of Kuala Lumpur from Oct 1, 2020, to March 31, 2023. His appointment to the board of Titijaya Land was effective immediately,…
Read MoreKUALA LUMPUR (Feb 23): Department store and mall operator Aeon Co (M) Bhd said on Friday that its net profit rose 31% in the fourth quarter from a year earlier, thanks to higher occupancy rate, rental renewals and cost control, while flagging risks from government policy measures. Net profit for the three months ended Dec…
Read MoreKUALA LUMPUR (Feb 23): Axis Real Estate Investment Trust (Axis REIT) announced that the group has entered into a sales and purchase agreement (SPA) with Amsteel Mills Sdn Bhd (AMSB) for the acquisition of a leasehold industrial complex in Klang for RM49 million, cash. Following the acquisition, AMSB will lease the property back from Axis…
Read MoreKUALA LUMPUR (Feb 26): Ancubic Group unveiled the sales gallery of its Ancubic Harmoni mixed-use development in Tanjung Dua Belas, Selangor on Sunday. Ancubic Harmoni is spread across a 33-acre (13.35-hectare) tract, and comprises components such as low-rise commercial projects, mixed and high-rise residential developments, medical and wellness facilities, and learning centres. The RM2.5 billion…
Read MoreKUALA LUMPUR (Feb 26): Malayan United Industries Bhd’s (MUI Group) Metrojaya department store at Mid Valley Megamall will close for renovations from Tuesday, and will be rebranded to MJ by Metrojaya when it reopens in September, according to a press statement last Friday. MUI Group chairman Andrew Khoo said, “As a pioneer anchor tenant in…
Read MoreKUALA LUMPUR (Feb 26): The Securities Commission Malaysia (SC) has announced an extension to the deadline for issuing a real estate investment trust’s (REIT) annual report. In a statement on Monday, the SC said that previously set at two months, the new timeline allows for four months after the financial year end. This adjustment aligns…
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