News by Justin Lim

AME Real Estate Investment Trust (REIT) is aiming for 100% renewal of its 12 leases expiring in the financial year ending March 31, 2024 (FY2024) to reinforce the industrial REIT’s future earnings.

Chinese property giant Country Garden Holdings Co’s failure to make payments on its two dollar bond coupons due Aug 6 (Sunday) totalling US$22.5 million (RM103 million) has raised concerns over a cross-default on its Islamic Medium-Term Notes (IMTN) Programme in Malaysia.

Mass Rapid Transit Corp Sdn Bhd (MRT Corp) on Friday (July 28) inked a memorandum of understanding with Hong Kong's public transport operator and property developer MTR Corp Ltd to undertake a mixed development project on a land adjacent to the Rapid Transit System (RTS) Link's Bukit Chagar station in Johor Bahru.

The government has announced that it will provide up to RM5 billion in loan schemes under the Housing Credit Guarantee Company (SJKP) to facilitate first-home purchases.

CapitaLand Malaysia Trust (CLMT) expects its earnings momentum to sustain in the second half of this year, bolstered by strong consumer spending and positive rental reversion coupled with contributions from newly acquired assets.

SkyWorld Development Bhd is committed to achieving a return on equity (ROE) of over 20% for its shareholders going forward.

Glomac Bhd’s net profit fell 15.58% to RM13.92 million for its fourth quarter ended April 30, 2023 (4QFY2023), from RM16.49 million a year earlier, mainly due to higher expenses and finance costs.

Paramount Corp Bhd has set a sales target of RM1.2 billion for the financial year ending Dec 31, 2023 (FY2023), representing about a 10% increase against the RM1.1 billion sales achieved in FY2022.

Malaysia Building Society Bhd (MBSB) shares were actively traded on news that the bank will buy out Permodalan Nasional Bhd's (PNB) entire stake in Malaysian Industrial Development Finance (MIDF) in a RM1.01 billion share deal.

The two parties are MCC Overseas (M) Sdn Bhd and Guandong Bright Dream Robotics Co Ltd.