LBS to raise RM750m via sukuk, sets up its own sustainability financing framework
Property developer LBS Bina Group Bhd is planning to raise up to RM750 million via sukuk for capital expenditure, investments, working capital and refinancing.
Teo Seng sells two-storey factory in Singapore for RM29.41m
Teo Seng Capital Bhd is selling a leasehold two-storey detached factory in Singapore for SG$8.5 million (about RM29.41 million), as the 19-year-old property remains under-utilised, since most of the group’s egg exports are directly delivered to wholesalers in the island nation.
RM18.3b worth of unsold houses in 2Q, says deputy minister
A total of 26,286 completed houses, valued at RM18.3 billion, were reportedly unsold in the second quarter of 2023 (2Q2023).
KPS sued over alleged land fraud in Kuala Langat
Kumpulan Perangsang Selangor Bhd (KPS), along with Menteri Besar Selangor (Inc) (MBI) and the Kuala Langat land administrator, have been sued by a trio over alleged fraud involving land in Kuala Langat.
Putrajaya urged to review ‘outdated and arbitrary’ housing affordability rule based on 30% of income
Ipsos Malaysia is calling for a review of the 30% housing expense-to-income rule in assessing housing affordability, saying the current rule that deems a home unaffordable if households spend more than 30% of their income on it, is both “outdated and arbitrary”, which leads to suboptimal policies.
Matrix Concepts secures RM512m financing facility from AmBank for MVV 2.0 project
It will feature a mix of residential, commercial and retail elements.
LBS Bina secures 28.67MW solar power capacity from Energy Commission under CGPP
LBS Bina said that its subsidiary Setara Armada Sdn Bhd, in collaboration with MWG Power Sdn Bhd and Ocean Solar Energy Sdn Bhd as a consortium, had been selected as the solar power producer under the CGPP by the Energy Commission for the development of a 28.67MW solar power plant.
Ibraco, China Railway win RM569m Kuching rapid transit project
Ibraco via its wholly owned unit Ibraco Construction Sdn Bhd (ICSB) together with China Railway units, China Railway Engineering Corp (M) Sdn Bhd and Nanyang Tunnel Engineering Sdn Bhd, won the tender for Blue Line Package 1 from Rembus to Stutong for the KUTS project from Sarawak Metro Sdn Bhd (SMSB).
GuocoLand's 1Q net profit triples to RM4.8 mil on higher property development and hospitality contribution
Property developer GuocoLand (Malaysia) Bhd's net profit surged threefold to RM4.79 million in its first quarter ended September 30, 2023 (1QFY2024) from RM1.57 million a year ago, attributed to overall improvement in the property development and hospitality divisions.
Sentral REIT's 3Q net property income up 6% on higher revenue, offset by higher property expenses
Sentral REIT’s net property income (NPI) rose 6.05% to RM30.12 million in the third quarter ended on Sept 30, 2023 (3QFY2023) from RM28.40 million a year ago, underpinned by higher gross revenue, offset by higher property expenses.
