News by Emir Zainul

All five contracts are deemed recurrent related-party transactions, as Exsim Hospitality’s major shareholders — Lim Aik Hoe, Lim Aik Kiat and Lim Aik Fu — who collectively hold a 70.5% indirect interest in the company, also control substantial stakes in the awarding entities through Exsim Development Sdn Bhd.

Paradigm REIT will debut with an initial fund size of 1.6 billion units and a portfolio of three properties valued at RM2.44 billion. 

Malaysia’s property transaction value surged 18% to RM232.30 billion in 2024, the highest annual figure in a decade, latest data from the Valuation and Property Services Department showed.

Exsim Hospitality Bhd (KL:EXSIMHB), formerly known as Pan Malaysia Holdings Bhd, has secured a RM13 million contract for interior design works at the D’Velada serviced apartment development in Bukit Jalil.

Financially-troubled Perak Corp Bhd (KL:PRKCORP) said it is entitled to a RM40.38 million entitlement after entering into a supplemental agreement concerning the development of a 56.3-acre land known as the Teluk Dalam land.

Property developer Glomac Bhd (KL:GLOMAC) has established an Islamic medium-term note (IMTN) programme of up to RM3 billion in nominal value with Malayan Banking Bhd (KL:MAYBANK), to be utilised for land acquisition, capital expenditure and working capital.

Pavilion Real Estate Investment Trust (Pavilion REIT) (KL:PAVREIT) reported a marginal increase of 0.2% in net property income (NPI) to RM134.86 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), compared with RM134.64 million in the previous corresponding quarter.

Precision components manufacturer Notion VTec Bhd (KL:NOTION) said it is acquiring a four-hectare vacant freehold agricultural land in Kapar, Klang, for RM29.62 million, as part of the expansion of its manufacturing operations.

Steel manufacturer Ann Joo Resources Bhd (KL:ANNJOO) said it is acquiring the remaining 45% equity interest in Konsortia Etiqa Sdn Bhd (KESB), the owner of 437 acres of industrial land in Kedah, for RM96 million.

Senheng New Retail Bhd (KL:SENHENG) is disposing of a piece of freehold industrial vacant land in Tebrau, Johor, measuring 1.041ha for RM11.21 million cash.