News by Chelsea J Lim

About 40,000 people are expected to attend this year’s Architecture, Interior Design and Building Exhibition (Archidex) with RM1.4 billion in transactions expected to be generated, said C.I.S Network Sdn Bhd president Datuk Vincent Lim at the exhibition’s launching ceremony held at Malaysia International Trade and Exhibition Centre on Thursday.

Luxury retailer Valiram Group has completed the acquisition of a 40% stake in The Exchange TRX mall and 60% stake in the TRX Campus office from Australian property developer Lendlease Group on Monday.

Negeri Sembilan-based property developer GD Properties on Thursday officially launched KL360, a mixed-use development with a gross development value (GDV) of RM1.37 billion. The project was previously an abandoned development called M101 Skywheel.

Construction group Binastra Corp Bhd's (KL:BNASTRA) fourth quarter net profit climbed by nearly 70% to RM42.4 million from RM25.1 million a year ago, amid a rise in the number of ongoing projects.

Construction company Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM99.28 million construction project in Cyberjaya, Selangor, from ParkCity Botanika Sdn Bhd.

Property developer Rivertree STF Synergies Bhd (KL:RSSB) plans to diversify into the management of centralised labour quarters to reduce overall earnings volatility, it said in a bourse filing on Thursday.

Binastra Corporation Bhd (KL:BNASTRA) has been appointed to complete construction of Subang Sentral for RM316 million and revive the long-stalled project in Subang Jaya.

Axis REIT (KL:AXREIT) aims to convert its remaining loans to sustainability-linked financing and explore more of such funding as the real estate investment trust expands its portfolio.

The trust said it will also benefit from profit rebates tied to achieving pre-agreed sustainability targets.

IJM Corporation Bhd (KL:IJM) said it is reviewing the strategy for its key businesses, including monetising part of its vast land bank at its property division, after rebuffing a takeover offer.