News by Syafiqah Salim

UEM Edgenta Bhd (KL:EDGENTA) has formed a joint venture (JV) company in Dubai, United Arab Emirates, to manage large-scale real estate projects there, marking a strategic expansion into the region.

“We can explore opportunities in different regions as well,” Chua said.

Paradigm Real Estate Investment Trust (KL:PARADIGM) made a flat Main Market debut on Tuesday, as it closed at RM1, unchanged from its initial public offering price amid a softer broader market.

Pavilion Real Estate Investment Trust (KL:PAVREIT) raised about RM360 million from a private placement of shares priced at RM1.40 per unit.

The exercise involves the issuance of up to 435.4 million new units, or approximately 14.9% of its total issued units.

Mah Sing Group Bhd (KL:MAHSING) announced on Friday that it is seeking new partners to develop data centre facilities on 17.55 acres of freehold land in Southville City, Bangi, after talks with Bridge Data Centres lapsed.

IGB Bhd (KL:IGBB) reported a 51.94% decline in net profit to RM89.07 million for the first quarter ended March 31, 2025 (1QFY2025), compared to RM185.34 million in the same period last year.

Malaysia’s property transaction value fell 8.9% in the first quarter of 2025 (1Q2025) to RM51.42 billion, compared to RM56.47 billion a year earlier, according to the latest data from the National Property Information Centre (Napic).

Kumpulan Jetson Bhd (KL:JETSON) announced on Wednesday that its shareholders’ requisition dated April 23, 2025 to convene an extraordinary general meeting (EGM) will be put on hold, pending the outcome of a legal suit filed by three minority shareholders challenging the validity of the notice.

Property developer S P Setia Bhd (KL:SPSETIA) announced on Tuesday it has lodged the necessary documents with the Securities Commission Malaysia to set up sukuk wakalah and Islamic commercial paper (ICP) programmes with a combined limit of up to RM4 billion.