News by Izzul Ikram

It envisages no major capital expenditure required to enhance the building to cater for its production requirement.

UEM Sunrise Bhd is disposing of 17 parcels of land in Perak, measuring a cumulative 1,776.6 acres to Sunsuria Bhd for RM75.52 million, as part of the group’s strategy to monetise non-strategic lands.  

Ireka Corp Bhd has been slapped with a RM97.91 million suit from a joint venture (JV) partner linked to obligations of a JV agreement for a development project.

In a Bursa Malaysia filing, AmFIRST REIT said Raja Nazirin Shah Raja Mohamad, 59, has resigned as CEO and director of the REIT “to pursue other opportunities”.

Sime Darby Property Bhd said on Wednesday (Nov 30) that it anticipates the group’s sales momentum to continue into the financial year ending Dec 31, 2023 (FY2023), albeit weaker due to the global economic uncertainties in the year ahead.

Looking ahead, Sunway REIT Management Sdn Bhd — the manager of Sunway REIT — said it remains optimistic on the group’s outlook for FY2022, underpinned by strong growth in its retail segment, gradual recovery in the hotel segment and the new income contribution.

KLCCP Stapled Group reported a 30.43% rise in net profit to RM176.59 million for the third quarter ended Sept 30, 2022 (3QFY22), from RM135.39 million a year earlier, on the back of improved performances across all business segments.

Paragon Globe Bhd has proposed to acquire a 42.29ha parcel of land in Johor Bahru for RM71.5 million, which is more than half of its market capitalisation of RM130.66 million.

The land is three kilometres away from Phase 4 of the KHTP and will therefore be converted into industrial or residential status from its current agricultural status.

IGB Real Estate Investment Trust’s (IGB REIT) net property income (NPI) for the third quarter rose 80.95% to RM101.19 million from RM55.92 million a year earlier, mainly due to lower rental support to tenants arising from the economic reopening and improved retail sales of tenants.