KUALA LUMPUR (Jan 24): RHB IB has raised Sentral REIT’s earning forecast for 2024–2025 (FY2024F–2025F) by 11% after incorporating contributions from the Menara CelcomDigi acquisition. In a note on Wednesday, RHB IB stated that Sentral REIT’s net profit for the fourth quarter of 2023 (4Q2023) came in at RM19.2 million, a 15.7% year-on-year (y-o-y) increase,…
Read MoreKUALA LUMPUR (Jan 23): Axis Real Estate Investment Trust’s (Axis REIT) net property income (NPI) for the fourth quarter ended Dec 31, 2023 (4QFY2023) increased by 6.3% to RM66.16 million from RM62.22 million a year ago, on the back of higher revenue. Quarterly revenue edged up by 6.5% to RM75.6 million from RM70.98 million in…
Read MoreKUALA LUMPUR (Jan 23): Sentral Real Estate Investment Trust (Sentral REIT)’s net property income (NPI) rose 30.21% to RM36.26 million for the fourth quarter ended Dec 31, 2023 (4QFY2023), from RM27.85 million a year earlier, on the back of higher revenue. Gross revenue increased 28.24% to RM46.66 million from RM36.39 million in 4QFY2022, mainly due…
Read MoreKUALA LUMPUR (Jan 23): Property developer YNH Property Bhd said it has received offers to buy its Mont’Kiara retail shopping mall, which sits on a six-acre land, and is expected to finalise the selection of the buyer in a month. It announced this in a bourse filing on Tuesday, in response to Bursa Malaysia Securities’…
Read MoreKUALA LUMPUR (Jan 23): Rapid Synergy Bhd, which came into the spotlight in recent days amid a sharp fall in its share price, has given more details of the freehold land in Sri Hartamas that it is diposing of for RM39 million. The industrial mould manufacturer said it signed an agreement on Tuesday to sell…
Read MoreKUALA LUMPUR (Jan 24): Malaysia’s headline interest rate, the overnight policy rate (OPR), has been maintained at 3% following the Monetary Policy Committee (MPC) meeting on Wednesday, said Bank Negara Malaysia (BNM). This is the fourth time that the MPC has decided to maintain the OPR at 3% since July 2023. The headline rate was…
Read MoreTo boost the real estate market, PropertyGuru urges the government to address the issues of cost of living and stagnant income. PETALING JAYA: The Malaysian property market is expected to stabilise in 2024 despite economic uncertainties, with certain areas and submarkets positioned for more robust growth. PropertyGuru country manager Sheldon Fernandez said there is also…
Read MoreKUALA LUMPUR (Jan 23): The government has extended the concession period with Express Rail Link Sdn Bhd by another 30 years to 2059, after seven years of negotiations since 2017, according to Transport Minister Anthony Loke Siew Fook. “This is the only extension [of the concession]. When the previous government talked about it in 2017, it…
Read MoreKUALA LUMPUR (Jan 23): Former chief executive officer (CEO) of IOI Properties Group Bhd Datuk Voon Tin Yow is set to come out of retirement and assume the role of CEO at Mah Sing Group Bhd, effective Feb 2, 2024. Voon, 66, with 40 years of experience in the construction and property development industry, will…
Read MoreSime Darby Property’s Elmina Lakeside Mall secures 85% tenancy prior to opening in 3Q2024 Some of the brands are Jaya Grocer, Harvey Norman, The Coffee Bean & Tea Leaf, Nak Nak, Inside Scoop, Kenny Hills Bakers, Jibby & Co, Chica Bonita, Sushi Zanmai, Para Thai, Super Saigon, Dolly Dim Sum, Watsons, Toys“R”Us, Twigs Bookshop, Lavender…
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