Property News Archives

Sentoria proposes share consolidation, bonds issue to raise up to RM150 mil

Jan 19, 2024

KUALA LUMPUR (Jan 18): Sentoria Group Bhd plans to raise up to RM150 million — more than three times its market capitalisation of RM40 million — from a redeemable convertible bonds issue to repay loans and finance property developments. In a bourse filing on Thursday, the property developer and resort operator also proposed a consolidation…
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Tanco sees 6 mil warrants exercised for RM1.88m as share price continues to plummet

Jan 19, 2024

KUALA LUMPUR (Jan 19): A total of 6.07 million warrants of Tanco Holdings Bhd were converted into shares for RM1.88 million amid heavy selling pressure on the company’s mother shares, which have dropped 43.5% over the last two days. The exercised warrants may have been part of a bonus issue that Tanco announced in August…
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Sime Darby Property’s Great Deals campaign achieves RM1.1 bil sales booking

Jan 19, 2024

KUALA LUMPUR (Jan 18): Sime Darby Property Bhd’s Great Deals sales campaign achieved sales bookings of 1,107 units worth RM1.1 billion. In a statement today, the property developer said the campaign, which ran from Aug 15 to Dec 31, 2023, provided attractive offers for a limited number of properties in the townships owned by Sime…
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The Edge Malaysia Property Management Virtual Talk 2024: Managing a stratified commercial property

Jan 19, 2024

KUALA LUMPUR (Jan 19): A strong Management Corporation (MC), a healthy maintenance budget and simplified design are among crucial elements to ensure that a property’s condition would be tiptop. This was shared during the “Fireside Chat: Costly to Judge a Book by its Cover” at The Edge Malaysia Property Management Virtual Talk 2024, which was…
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EcoWorld develops Johor township with RM3.88bil GDV

Jan 18, 2024

Permodalan Darul Ta’zim agreed to nominate Eco Botanic 3 Sdn Bhd for the purchase of RM450.13 million Johor land from River Retreat Sdn Bhd. (Medini Iskandar pic) PETALING JAYA: Eco World Development Group Bhd (EcoWorld Malaysia) has proposed to acquire 13 parcels of land totalling 97.25 hectares in Iskandar Puteri, Johor, to develop a mixed…
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Blow for YNH as MARC Ratings downgrades bond programme

Jan 18, 2024

YNH’s share price has plunged by 71.3% since the start of the year, wiping RM1.6 billion off its market capitalisation. PETALING JAYA: YNH Property Bhd suffered yet another blow today when MARC Ratings Bhd downgraded its rating on the property developer’s Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBBIS from AIS, and placed the rating…
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EPU urged to seek ‘win-win’ solutions with developers over Bumiputera policy

Jan 18, 2024

Scientex’s property division aims to deliver 50,000 units of affordable homes by 2028. (Scientex Bhd pic) PETALING JAYA: The federal government and Economic Planning Unit (EPU) should actively engage with property developers to ensure that property projects are not derailed over the issue of Bumiputera equity policy compliance, say property consultants. KGVI International Property Consultants…
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Gagasan Nadi partners Kwasa Land to develop affordable houses in Kwasa Damansara at a cost of RM750 mil

Jan 18, 2024

KUALA LUMPUR (Jan 18): Builder Gagasan Nadi Cergas Bhd has bagged a contract from Kwasa Land Sdn Bhd, a wholly owned subsidiary of the Employees Provident Fund, to jointly develop affordable houses on a parcel of land in Kwasa Damansara township, Selangor at a cost of RM750 million. Spanning 34.86 acres, the proposed development will…
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Aerotrain win takes value of IJM’s jobs secured to 75% of FY2024’s RM4b target, says RHB Research

Jan 18, 2024

KUALA LUMPUR (Jan 18): RHB Research said IJM Corp Bhd has secured RM2.9 billion worth of jobs year-to-date for the financial year ended March 31, 2024 (FY2024), compared with its job replenishment assumption of RM4 billion for the period, after its joint venture (JV) company secured a RM176 million job for the automated people mover…
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MARC downgrades YNH’s programme rating to BBBIS amid liquidity concerns and asset sale delays

Jan 18, 2024

KUALA LUMPUR (Jan 18): MARC Ratings has downgraded its rating on YNH Property Bhd’s Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBBIS from AIS and concurrently placed the rating on MARCWatch Negative. This downgrade reflects growing concerns over YNH’s weak liquidity position and further delays in the sale of assets, which is much-needed for cash…
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