News by theedgemalaysia.com

Axis Real Estate Investment Trust (KL:AXREIT) has raised RM449.73 million through a private placement exercise, which will be used to support the REIT's strategy to pursue high-quality, yield-accretive acquisitions, and enhance its existing portfolio.

The 22% rally in the unit price of IGB REIT since the start of the year has prompted analysts to downgrade the counter to “hold”, even after ascribing slightly higher fair value on the Mid Valley Megamall operator.

The 24th International Architecture, Interior Design and Building Exhibition (Archidex 2025) will be held at two venues for the first time next year — at the Malaysia International Trade and Exhibition Centre (Mitec) from July 21 to 24 and at the Kuala Lumpur Convention Centre (KLCC) from July 23 to 26.

Symphony Life Bhd’s former chief financial officer Ng Ying Yiing and former group adviser Datuk David Goh were charged at the Sessions Court in Shah Alam for using RM2.57 million in company funds to purchase shares in Cycle and Carriage Bintang Bhd (CCB), without board approval.

Along with the masterplan, the developer has also unveiled IOI Mall Rio, a new shopping mall at IOI Rio City that will have one million sq ft of net lettable area and over 300 retail units. 

The issue price represents a discount of 14.89% to the five-day weighted average market price of Southern Steel shares of 49.35 sen as at Sept 10.

This follows the High Court’s October ruling that the Duta Enclave should be returned to Semantan Estate, effectively declaring the government’s 1956 acquisition of the land invalid.

The contract was secured via its wholly owned Kitacon Sdn Bhd on Monday, which had accepted a letter of award from Tropicana Alam.

"We project its consolidated capital spending will rise to RM6 billion to RM7 billion per annum in 2024 and 2025 from RM2.8 billion in 2023.”

New tenancies from its logistics warehouse Axis Mega Distribution Centre (Phase 2) and positive rental reversion from its existing portfolio also boosted its NPI for the three months ended Sept 30, 2024.