News by Jazlin Zakri

The government will maintain the annual revenue threshold for the expanded sales and services tax (SST) on construction services at RM1.5 million, despite industry calls to raise it to RM3 million.

CapitaLand Malaysia Trust (KL:CLMT) said on Wednesday it has raised about RM250 million from a private sale of new units.

The Malaysia Shopping Malls Association (PPK Malaysia), which represents shopping mall operators nationwide, has renewed its call to the government to address escalating operational costs and the expansion of the sales and service tax (SST) in the upcoming Budget 2026.

Bank Negara Malaysia's (BNM) overnight policy rate cut may improve sector sentiment, but its impact on real estate investment trusts (REITs) is expected to be limited, with only modest borrowing cost reductions, as market valuations have largely priced in the move.

Gamuda Bhd (KL:GAMUDA) climbed to its highest in nearly six months on Tuesday after the group announced it had secured a renewable energy (RE) project in Tasmania, Australia. Its share price rose 18 sen or 3.76% to RM4.97, valuing the company at RM28.68 billion.

Prasarana group chief operating officer Amir Hamdan will take over as acting president and group CEO from July 15, 2025.

RHB Investment Bank estimated Gamuda Bhd's (KL:GAMUDA) core net profit could rise to between RM230 million and RM250 million for the third quarter ended April 30, 2025 (3QFY2025), the research house said in an earnings preview note.

The expanded SST may raise tenants’ operating costs and limit REITs' rental reversion, said CIMB Securities.

Property development company Encorp Bhd (KL:ENCORP), an indirect subsidiary of the Federal Land Development Authority (Felda), has appointed Ahmad Harzimi Mohd Taib as its new group CEO, with immediate effect.

Property developer Paramount Corp Bhd's (KL:PARAMON) net profit surged 87.2% to RM14.4 million in the first quarter ended March 31, 2025 (1QFY2025) from RM7.71 million a year earlier, primarily driven by the improvement in the property segment.