REITs may see tougher second half as new tax pressures tenants, landlords—CIMB Securities
The expanded SST may raise tenants’ operating costs and limit REITs' rental reversion, said CIMB Securities.
Six business groups urge govt to delay SST expansion, warn of inflation and job losses
They specifically highlighted the proposed 8% tax on commercial rental and leasing services, deeming its timing "gravely misguided".
Malaysian retailers urge MOF to waive or defer SST on commercial rentals
The association said the 8% SST on commercial rentals that will kick in on July 1 — introduced without any consultation or engagement with the retail sector — will add further pressure on the retail industry.
Avaland breaks ground of Avenue25 pedestrian link to LRT station
Avaland Bhd (KL:AVALAND) has commenced construction of a 300m covered pedestrian walkway and link bridge from its Avenue25 mixed-use development to the USJ21 LRT Station.
GDB chairman Zaini Omar resigns due to health issues, Chia Lui Meng takes over
GDB Holdings Bhd (KL:GDB) said its non-executive chairman Tan Sri Zaini Omar has resigned from the position due to health issues.
UEM Edgenta forms JV to expand presence in Dubai's property management sector
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.
Country Heights to sell South Africa-based unit for RM600,000
Cash-strapped property developer Country Heights Holdings Bhd (KL:CHHB) plans to dispose of a firm that owns a property in South Africa for RM600,000 in cash.
Shopping mall operators urge deferment, staggered SST expansion amid rising cost concerns
The Malaysia Shopping Malls Association (PPK Malaysia), which represents shopping mall operators across the country, is calling for a deferment of the government's decision to expand the sales and service tax (SST) to include rental and leasing services, construction and beauty services, until after Visit Malaysia Year 2026, and to take a staggered approach to it thereafter.
Berjaya Land sells 80% stake in Vietnamese property developer for RM202m
Berjaya Land Bhd (KL:BJLAND) said the group is divesting its entire 80% stake in a company undertaking a mixed-use development in Hanoi, Vietnam for 1.239 trillion dong (RM201.96 million) in cash.
Binastra’s latest construction win signals clientele diversification efforts, say analysts
Binastra Corporation Bhd’s (KL:BNASTRA) RM268 million apartment construction job win from new client TNJ Development Sdn Bhd adds to ongoing efforts to diversify beyond its three core recurring customers, said analysts.
