KUALA LUMPUR (Sept 6): Impiana Hotels Bhd has appointed Datuk Seri Lee Hock Seng as its executive director effective Wednesday, and will subsequently designate Lee as its deputy executive chairman. In a filing to Bursa Malaysia, the company said Lee and his spouse Datin Seri Joanne Yew Hong Im are currently the group’s largest substantial…
Read MoreKUALA LUMPUR (Sept 6): Just over a month after completing a private placement exercise earlier this year, Aneka Jaringan Holdings Bhd has proposed to undertake another such cash call to raise RM15.51 million to fund its ongoing construction projects. In a bourse filing on Wednesday, the construction outfit said the exercise will involve the issuance…
Read MoreKUALA LUMPUR (Sept 6): The Construction Industry Development Board (CIDB) has appointed Mohd Zaid Zakaria as its chief executive, effective from Sept 1. Mohd Zaid succeeds CIDB’s former chief executive, Datuk Ahmad ‘Asri, who ended his contract on Aug 30, after serving 38 years in the public sector, said the CIDB in a statement on…
Read MoreKUALA LUMPUR (Sept 6): YTL Hospitality Real Estate Investment Trust (YTL Hospitality REIT) is acquiring Hotel Stripes Kuala Lumpur, Autograph Collection for RM138 million cash, in a related party transaction (RPT). Maybank Trustees Bhd, as the trustee for the REIT, inked a conditional sale and purchase agreement with the vendor, Hotel 25 Sdn Bhd, on…
Read MoreKUALA LUMPUR (Sept 7): SkyWorld Development (Vietnam) Company Ltd, a wholly owned subsidiary of SkyWorld Development Bhd, is acquiring 1.3 acres (0.53 hectare) of land in Ho Chi Minh City, Vietnam. In a filing with Bursa Malaysia on Thursday, the company said it acquired the land by way to purchasing 100% stake or 1.7 million…
Read MoreKUALA LUMPUR (Sept 7): Bank Negara Malaysia (BNM) has decided to keep the overnight policy rate (OPR) at 3%, amid robust domestic demand supported by strong labour market conditions. This is as the central bank pointed to slower external demand and a decline in commodity production, which affected Malaysia’s economic growth in the second quarter…
Read MoreKUALA LUMPUR (Sept 7): The Real Estate and Housing Developers’ Association (REHDA) Malaysia welcomes the proposal by Minister of Local Government Development (KPKT), Nga Kor Ming to introduce an Act to oversee urban regeneration efforts in the country, stating that “it is high time for such an Act to be introduced given the lack of…
Read MoreNews of the setting up of a financial centre in the Forest City development has boosted the share prices of several property counters. (AFP pic) PETALING JAYA: In an environment where rising interest rates have led to falling demand, thereby weakening market sentiment, property and construction counters on Bursa Malaysia have done remarkably well. For…
Read MoreKUALA LUMPUR (Sept 6): TA Securities is positive on CapitaLand Malaysia Trust’s (CLMT) disposal of the lowly occupied 3 Damansara Office Tower (pictured) in Petaling Jaya, Selangor. In a research note, TA noted that the proposed disposal for RM52 million translates into a premium of 4% over the property’s market value, and would result in…
Read MoreKUALA LUMPUR (Sept 5): Lion Industries Corp Bhd’s proposed RM92.03 million land disposal announced on Sunday has raised questions from Bursa Securities. Bursa Securities in a query asked Lion Industries five questions, including the reason for the estimated expenses for the disposal at RM22.23 million (24% of the proceeds), and how Lion Industries arrived at…
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