News by Wong Ee Lin

The women's undergarments manufacturer said the proposed acquisition augurs well for its strategy to expand and establish its footprint in other States “and would position the Group as an upcoming property developer in Penang”.

Foreign property ownership was seen as something that should be taxed more, with 76.8% choosing higher stamp duty for foreign property buyers.

The group’s estimated market value of its real estate, including vacant land, is as much as RM519 million, or 70 sen per share — an amount that is slightly below its market capitalisation of RM539 million based on yesterday’s closing of 73 sen, according to CIMB Research.

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The move is aimed at streamlining the group’s campus assets.

It has proposed a distribution per unit (DPU) of 2.14 sen, taking its annualised distribution yield to 5.41%.Revenue for the quarter rose 16.47% to RM141.35 million, against RM121.36 million in 3QFY17.

In a bourse filing, CMMT said the downtime from asset enhancement works at the Jumpa lifestyle annex of Sungei Wang had affected net property income.

"What we are calling for is not austerity, but smarter spending," said Guan Eng in his luncheon address at the Khazanah Megatrends Forum 2018 themed "On Balance: Recalibrating Markets, Firms, Society and People" here today.

A total of 35 stations, 11 of them underground, will be built under MRT2, also known as the Sungai Buloh-Serdang-Putrajaya (SSP) line.

PRG said the proposed disposal enables it to rationalise its investment in Furniweb and the proceeds raised will be used for expansion into healthcare division and working capital for the group's business and operations.