REITs face near-term volatility as new tax regime takes effect
Resident individuals will now be taxed based on progressive income tax rates of between 0% and 30%, while non-residents face a higher flat rate of 30%.
REIT index hits three-month low after Malaysia ends decade-long withholding tax perk
Real estate investment trusts (REITs) led losses across Bursa Malaysia’s sectoral indices on Thursday (March 19), as sentiment turned sour following the government’s move to remove a decade-long preferential tax treatment on REIT distribution.
Berjaya Property appoints Johor princess Tunku Aminah as chairman after more than two years of vacancy
Berjaya Property Bhd (KL:BPROP), formerly Berjaya Land Bhd, has appointed Johor princess Tunku Tun Aminah Sultan Ibrahim as its new non-independent non-executive chairman, filling a role that had been vacant for more than two years.
Rivertree plans diversification into management of centralised labour quarters to stabilise earnings
Property developer Rivertree STF Synergies Bhd (KL:RSSB) plans to diversify into the management of centralised labour quarters to reduce overall earnings volatility, it said in a bourse filing on Thursday.
Maybulk, Leader Steel to pay special payouts after joint RM687.89 mil land sale in Klang with Eonmetall
Maybulk Bhd (KL:MAYBULK), Eonmetall Group Bhd (KL:EMETALL) and Leader Steel Holdings Bhd (KL:LSTEEL) are selling three adjoining parcels of industrial land in Klang, Selangor, to WG Malaysia VIII Sdn Bhd for a combined RM687.89 million.
Mieco Chipboard sells land with factory in Semenyih to hamper specialist Jin Ye Ye for RM57m
Mieco Chipboard Bhd (KL:MIECO) is selling 16.9 acres (68,532.58 sq m) of land with an office, factory and warehouse in Semenyih, Selangor, to hamper services provider Jin Ye Ye Sdn Bhd for RM57 million.
Malaysia stops giving preferential rate for REIT withholding tax
Malaysia has stopped giving preferential rates for the withholding tax on dividends from real estate investment trusts (REITs) or property trust funds (PTFs), a government notice showed.
Binastra's Subang Sentral win within earnings expectations but more to come — analysts
Binastra Corp Bhd (KL:BNASTRA) is in a favourable position to secure subsequent phases of its recent Subang Sentral contract win, potentially adding RM600 million to RM700 million to its order book due to its position as the main contractor, according to analysts.
Wentel Engineering proposes to buy RM29.6m Johor factories from founder
Wentel Engineering Holdings Bhd (KL:WENTEL) has proposed to acquire two medium industrial semi-detached factory units in Johor for RM29.58 million in a related-party transaction.
Glomac’s 3Q net profit nearly triples amid increased property development activities
Glomac Bhd's (KL:GLOMAC) net profit nearly tripled in its third financial quarter, on improved contribution from its property development business amid increased activities.
