News by M

Raising the overnight policy rate (OPR) may no longer be "relevant” given the decline of headline inflation to below 2% recently, said Deputy Finance Minister Datuk Seri Ahmad Maslan.

Tropicana Cenang at Langkawi recorded 90% take-up for its first phase, Assana Serviced Suites recently.

EP Manufacturing Bhd (EPMB) is establishing an automotive manufacturing facility in Melaka involving over RM100 million investment to cater for BAIC and Great Wall Motor (GWM) vehicles.

Industronics Bhd said it had entered into a memorandum of agreement (MOA) on Friday to negotiate a proposed collaboration to construct an international duty-free city on Pulau Langkawi.

UEM Sunrise Bhd is disposing of a 6% stake in Nusajaya Lifestyle Sdn Bhd (NLSB), the developer and operator of the Mall of Medini, Iskandar Malaysia, to Iskandar Investment Bhd’s (IIB) unit Iskandar Harta Holdings Sdn Bhd (IHH), for RM8.92 million.

ACE Market-listed Glostrext Bhd is buying a 1,735-sq-ft office space in Singapore for S$750,000 (RM2.61 million).

EcoFirst Consolidated Bhd is selling 15 retail units from its completed Liberty Arc @ Ampang Ukay mixed development project to major shareholder Tan You Tiong for RM23.82 million.

Axis Real Estate Investment Trust (Axis REIT) has obtained a judgement in default against its former tenant at Axis Steel Centre @ SiLC in Nusajaya, Johor, over a default on rental payments and unexpired future rental payments amounting to RM110 million.

KIP Real Estate Investment Trust (REIT) reported a 15.2% surge in net property income (NPI) for the first quarter ended Sept 30, 2023 (1QFY24), despite its NPI margin declining marginally to 73.8% during the quarter compared with 74.1% in the corresponding quarter.

The main objective of Budget 2024 is to optimize subsidies, allowing the country to provide more funds for development expenditure. “This will facilitate the construction of high-quality infrastructure and support the country's journey towards becoming a developed nation,” stated JLL in its Malaysian 2024: Real Estate Key Highlights report.