News by Justin Lim

Real estate investment trusts (REITs) led losses across Bursa Malaysia’s sectoral indices on Thursday (March 19), as sentiment turned sour following the government’s move to remove a decade-long preferential tax treatment on REIT distribution.

Glomac Bhd's (KL:GLOMAC) net profit nearly tripled in its third financial quarter, on improved contribution from its property development business amid increased activities.

He succeeds Yeoh Chong Keat, 68, who resigned after serving on the board for nearly 10 years since his appointment in August 2016.

Sunway Real Estate Investment Trust (KL:SUNREIT) is establishing a sustainability-linked commercial papers (SLCPs) programme of up to RM3 billion in nominal value.

The joint venture between Ann Joo Resources Bhd (KL:ANNJOO) and Transyear Sdn Bhd has secured a deal to sell a 60.1-acre industrial land in Gurun, Kedah, for RM117.81 million cash.

Knusford Bhd (KL:KNUSFOR) is disposing of a 0.304-hectare freehold land in Setapak, Kuala Lumpur, for RM7 million cash in a related-party transaction.

Rivertree STF Synergies Bhd (KL:RSSB), formerly known as Sinmah Capital Bhd, has entered into a heads of agreement (HOA) to collaborate on the design, construction and operation of up to four centralised labour quarters (CLQs) in the Klang Valley, with a total indicative value of RM600 million.

Chin Hin Group Bhd's (KL:CHINHIN) net profit rose 5.37% to RM37.99 million in the fourth quarter from RM36.05 million a year earlier, supported by a turnaround in its property development division.

LBS Bina Group Bhd (KL:LBS) said it recorded normalised profit after tax from continuing operations of RM44.73 million in the fourth quarter ended Dec 31, 2025 (4QFY2025) against a loss after tax of RM3.37 million in 4QFY2024, lifted by stronger contribution from its property development segment.

The retirement fund said it acquired 4.07 million IJM shares in three tranches on Feb 3, raising its total shareholding to 714.91 million shares.