News by Reyanna Ng

Construction outfit Vizione Holdings Bhd has reported a net loss of RM58.86 million for the sixth quarter ended May 31, 2023 (6QFY2023) on revenue of RM58.48 million.

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.

IGB Commercial Real Estate Investment Trust, the country's largest standalone office REIT by net lettable area, reported a marginal 3% increase in its net property income for its second quarter ended June 30, 2023 (2QFY2023) to RM31.11 million from RM30.08 million a year ago, as it recorded higher revenue on higher occupancy rate.

This led to differing views from some economists as to whether BNM will hike the key rate further following the surprise 25-basis-point increase in April, or to leave it unchanged for the rest of the year.

Stella Holdings Bhd said its unit has won a RM91.36 million sub-contract for a  medium-cost apartment project undertaken by the Penang State Islamic Religious Council in the Seberang Perai Tengah district.

RHB Research maintained its Overnight Policy Rate (OPR) forecast at 3.25%, in contrast with most other economists who see Bank Negara Malaysia holding on to the 3% key borrowing rate until the end of the year.

Landmarks Bhd said its wholly owned Andaman Resorts Sdn Bhd (ARSB), which in March defaulted on its financing facilities totalling RM133.37 million from OCBC Bank (Malaysia) Bhd, has been placed under receivership.

Ahmad Nazim, 47, is also the chief executive of LTAT, which controls over 97% of Boustead and is in the process of privatising the company.

It said it took up a bid from the liquidator for KidZania Singapore's non-movable assets at the height of the pandemic towards the end of 2020.