News by Choy Nyen Yiau

The "Rule of 78" calculates a loan's interest for the entire loan term based on the original principal. A borrower thus gets no interest savings even if the loan is paid off earlier than scheduled.

IGB Commercial Real Estate Investment Trust (IGB Commercial REIT) (KL:IGBCR) is buying two office floors in Menara Southpoint of Mid Valley City from its sponsor and parent company, IGB Bhd (KL:IGB), for RM62.4 million cash. IGB holds 53.84% in IGB Commercial REIT.

IGB Bhd (KL:IGBB) has declared a dividend payout of 12 sen per share for FY2024 — comprising an interim dividend of seven sen and a special dividend of five sen — as its latest third quarter net profit jumped 27% from the corresponding quarter last year, driven by higher contributions from its retail, commercial and hotel segments.

The properties include Dudley International House, an eight-floor student dormitory at 51 Queen Street, and 333 Exhibition Street in Melbourne, purchased in 2013.

Lagenda Properties Bhd (KL:LAGENDA) said on Friday that an indirectly owned subsidiary of the company has secured the right to develop a 139-acre land in Kota Tinggi, Johor, for RM99.62 million, cash. The final purchase price may still vary.

The transport ministry will hold discussions with the State Railway of Thailand regarding the proposed revival of the service, aimed at enhancing connectivity for both cargo and passenger transport between the two countries.

Transport Minister Anthony Loke announced on Wednesday that the Cabinet has approved a RM442.3 million upgrade for Kota Kinabalu International Airport (KKIA).

A federal lawmaker from Sabah has alleged that one of the packages under the Pan Borneo Highway project in the state involved "multiple levels of subcontracting" and wants Putrajaya to terminate the contractor.

The Employees Provident Fund (EPF) has set aside a provision of RM24 million following an accounting adjustment at its Battersea joint venture (JV) firm.

This move is expected to generate local investments of RM40 million to RM110 million, directed towards high-growth, high-value sectors.