News by Choy Nyen Yiau

Berjaya Land Bhd's (BLand) and Malaysian Resources Corp Bhd's (MRCB) shares reached a record high during Friday's morning trading session, following a report by The Edge that the two construction outfits are teaming up, alongside IJM Corp Bhd and Keretapi Tanah Melayu Bhd (KTMB), to bid for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

RHB Investment Bank Research (RHB IB) has maintained its "overweight" rating on the real estate sector, identifying UEM Sunrise Bhd as the top proxy for the segment, with potential benefits extending to Sunway Bhd, IOI Properties and Eco World Development Group Bhd if significant railway infrastructure projects materialise in Johor.

Sime Darby Property Bhd's (SimeProp) deal with Lagenda Properties to venture into the affordable homes sector could allow the group to explore the viability of the segment, potentially leading to future developments in other states, said Hong Leong Investment Bank (HLIB).

Axis Real Estate Investment Trust's (Axis REIT) net property income (NPI) for the fourth quarter ended Dec 31, 2023 (4QFY2023) increased by 6.3% to RM66.16 million from RM62.22 million a year ago, on the back of higher revenue.

Voon, 66, will replace Datuk Ho Hon Sang, who has been at the helm since 2016 and cited retirement as the reason for his resignation.

The significant earnings contraction was primarily due to impairments including investment loss of RM9.57 million, RM2.88 million for stock, RM3.1 million for retrenchment benefits, among others. 

Malaysia Airports Holdings Bhd (MAHB) has announced that a consortium consisting of ALSTOM Transport Systems (Malaysia) Sdn Bhd, IJM Construction Sdn Bhd (IJMC) and Pestech Technology Sdn Bhd will be completing the aerotrain replacement project.

Stocks associated with businessman Datuk Dr Yu Kuan Chon continued to endure selling pressure, with both Rapid Synergy Bhd and YNH Property Bhd hitting limit down once again shortly after Wednesday's trading began.

BLD Plantation Bhd has acquired two properties in Bintulu, Sarawak, for RM24 million for its business expansion.

This follows the issuance of 37 RFI documents, as part of the July 2023 exercise.