KUALA LUMPUR (Sept 26): Fitch has cut its revenue expectations for Genting Malaysia — operator of Malaysia’s Resorts World Genting plus casinos in New York and Europe — by around 5% on average for 2023 and 2024, citing its slower-than-expected recovery through the first half of the year. In a report last Friday (Sept 22),…
Read MoreKUALA LUMPUR (Sept 22): Selangor has built 40,000 affordable homes in five years since 2018, said Selangor Menteri Besar Datuk Seri Amirudin Shari (pictured). He said the construction of another 5,000 houses is expected to be completed by the end of this year. According to him, Selangor has been recognised by the Local Government Development…
Read MoreTransitioning to a world-class sustainable city involves more than managing carbon emissions. We should be driving resilience. It’s not business as usual. Change is underway, redefining the roles of the next generation of city builders in Malaysia. Rapid growth and the city’s resilience demand tools for long-term sustainability, including adaptation to adversity, preparing for future pandemics, addressing…
Read MoreEcoWorld’s strong branding, responsiveness to market conditions, and timely presence in Johor’s industrial property scene are favourable factors for the developer, says Kenanga Research. (EcoWorld pic) PETALING JAYA: Kenanga Research which previously rated Eco World Development Group Bhd (EcoWorld) as “outperform” has downgraded its recommendation to “market perform” in response to a recent surge in…
Read MoreLee Yeow Chor (left) and Lee Yeow Seng, who control both IOI Corp and IOI Properties, are developing a mixed-use hotel cum residential development at Singapore’s Marina Bay financial district. PETALING JAYA: IOI Group’s Lee Yeow Chor and Lee Yeow Seng are among at least 10 Asian billionaires investing more than S$6 billion (RM20.6 billion)…
Read MoreWhile changing lifestyles and needs have boosted the preference to rent, developers have yet to fully see the potential of the build-to-rent market. PETALING JAYA: A steady increase in property prices over an extended period of time has put home purchasing beyond the reach of many. To this end, developers are expected to cash in…
Read MoreKUALA LUMPUR (Sept 21): Tanco Holdings Bhd has entered into a joint venture (JV) agreement with Accession Development Sdn Bhd to develop a residential project in Pekan Puchong Perdana, Petaling, Selangor. An indirect wholly-owned unit of Tanco, Palm Springs Development Sdn Bhd, will undertake the design features and components of the project, followed by tabulating …
Read MoreKUALA LUMPUR (Sept 21): Ahmad Zaki Resources Bhd (AZRB) plans to undertake a private placement of 10% of its share base to raise RM12.7 million to fund the engineering and construction group’s working capital requirements. Nearly all of the proceeds, RM12.6 million, has been earmarked for working capital for the group’s engineering and construction division,…
Read MoreKUALA LUMPUR (Sept 21): Maju Offshore Sdn Bhd has offloaded its entire 5.04% stake in loss-making Bina Puri Holdings Bhd to Maju Offshore Capital Sdn Bhd, according to a bourse filing on Thursday. Maju Offshore disposed of the stake to Maju Offshore Capital on Wednesday “to streamline the business in between holding company and its…
Read MoreKenanga Research has maintained a cautious stance on Axis REIT due to its declining occupancy rate. PETALING JAYA: The real estate investment trust (REIT) sector may continue to face headwinds on the back of muted consumer sentiment, said Kenanga Research. In a note today, the research house said that the possible implementation of targeted fuel…
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