KUALA LUMPUR (Aug 15): KLCC Stapled Group Bhd’s net profit for the second quarter ended June 30, 2023 (2QFY2023) rose 9.46% to RM180.8 million, from RM165.18 million a year ago, on the back of higher revenue and interest income. The group — comprising KLCC Property Holdings Bhd (KLCCP) and KLCC Real Estate Investment Trust (KLCC…
Read MoreKUALA LUMPUR (Aug 15): Country Heights Holdings Bhd, the property developer founded by tycoon Tan Sri Lee Kim Yew, has defaulted on the payment of Islamic term financing facilities totaling RM181.1 million provided by MBSB Bank Bhd. The default by the group’s indirect wholly-owned units, Mines Waterfront Business Park Sdn Bhd (MWBP) and Mines International…
Read MoreKUALA LUMPUR (Aug 15): Impiana Hotels Bhd saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following the duo’s acquisition of 120.8 million shares or 19.9% stake in the company. It should be noted that Lee is an executive chairman of…
Read MoreKUALA LUMPUR (Aug 15): Impiana Hotels Bhd saw Datuk Seri Lee Hock Seng and his spouse Datin Seri Joanne Yew Hong Im emerge as the group’s largest substantial shareholders following the duo’s acquisition of 120.8 million shares or 19.9% stake in the company. Lee is the group chairman of HYM Group, which owns and operates…
Read MoreKUALA LUMPUR (Aug 15): Analysts believe that KLCCP Stapled Group’s solid office occupancies, stronger sales, and improved hotel occupancies from higher tourist arrivals during the summer and Christmas holidays in the second half of the financial year ending Dec 31, 2023 (2HFY2023) will boost its earnings during the period. After the group’s results for 1HFY2023 came…
Read MoreKUALA LUMPUR (Aug 14): Knight Frank’s Asia-Pacific Prime Office Rental Index for 2Q2023 has dropped by 1.6% quarter-on-quarter (q-o-q), maintaining a year-long downward trend since 2Q2022. This “can largely be attributed to continued soft conditions in the Chinese Mainland”, stated the global real estate consulting firm in a media release. Vacancies rose marginally by a quarter…
Read MoreKUALA LUMPUR (Aug 11): CGS-CIMB maintained its “buy” call on Sime Darby Property Bhd and raised its target price (TP) by 19% to 87 sen from 73 sen on the group’s diversified product mix, high unbilled sales and strong balance sheet. CGS-CIMB’s revised TP of 87 sen is based on 0.6 times its financial year…
Read MoreKUALA LUMPUR (Aug 10): Practice Note 17 (PN17) company Top Builders Capital Bhd said on Thursday (Aug 10) that its external auditor, Kreston John & Gan, has resigned on a volunary basis. Kreston John & Gan’s term of office will end 21 days after the resignation notice date of Aug 9 in line with the…
Read MoreKUALA LUMPUR (Aug 11): Analysts foresee an improvement in Sentral REIT’s financial performance, underpinned by the office-retail property trust’s proposed acquisition of Menara CelcomDigi. The analysts made their forecast after the REIT posted a net property income of RM29.21 million for the second quarter ended June 30, 2023 (2QFY2023) from RM27.94 million a year earlier,…
Read MoreKUALA LUMPUR (Aug 10): Eco World Development Group Bhd (EcoWorld) has issued the second tranche of Islamic bonds (sukuk) amounting to RM550 million under its sukuk wakalah programme of RM1.2 billion. In a filing with Bursa Malaysia on Thursday (Aug 10), the property developer said the proceeds from the sukuk will be utilised by EcoWorld…
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