News by Luqman Amin

Property developer and hospitality group Mulpha International Bhd (KL:MULPHA) announced on Thursday that its chief executive officer (CEO) Gregory David Shaw has retired.

Pharmaniaga Bhd (KL:PHARMA) has announced the acquisition of an industrial facility in Kota Kinabalu for RM26 million as part of its ongoing plan to strengthen its logistics and distribution capacity.

Al-Aqar Healthcare Real Estate Investment Trust (Al-Aqar REIT) (KL:ALAQAR) is expected to record a disposal loss from its planned divestment of non-performing property in Bukit Mertajam, Penang, for RM12 million—below both its market value and original investment cost.

Palm kernel expeller manufacturer Muar Ban Lee Group Bhd (KL:MBL) has acquired two parcels of industrial land together with existing buildings in Muar, Johor, for a total consideration of RM9.5 million, as part of its ongoing capacity expansion strategy.

Seremban-based developer Matrix Concepts Holdings Bhd (KL:MATRIX) reported marginally higher earnings for the second quarter as higher project contributions and lower operating expenses offset product mix effects.

The collaboration involves a 6,410-square-metre leasehold tract in Mukim Bandar Kuala Lumpur. 

Sime Darby Property Bhd (KL:SIMEPROP) rose on Friday after reporting a set of stronger-than-expected results, and analysts are now unanimously bullish on the stock.

Sime Darby Property Bhd (KL:SIMEPROP) is well-positioned to take on more debt to fund its income-generating industrial and data centre projects.

Sime Darby Property Bhd (KL:SIMEPROP) expects its newly opened KLGCC Mall in Bukit Kiara to break even sooner than initially projected as early operating indicators on the mall operation have exceeded internal forecasts.

Johor-based property developer Crescendo Corp Bhd (KL:CRESNDO) is divesting another parcel of land in the state for RM200.88 million and has granted the purchaser the right to buy an adjoining parcel worth RM249.07 million.