Property Developer UEM Sunrise Bhd piqued investor interest as its share price reached a two-year high and its shares were traded actively on Bursa Malaysia in the morning session on Thursday (July 20).
RHB Research has maintained an "overweight" call on the construction sector, with awards from the public sector seen picking up post-state elections in August, should the status quo be maintained.
It seems that higher interest rates and tight credit in the US may have had a hand in the collapse of Genting Malaysia Bhd’s billion-dollar Miami waterfront real estate sale in June, though indications are that interest on the prime property remains strong.
ACE Market-listed Tex Cycle Technology (M) Bhd is disposing of a three-storey detached industrial building constructed on a piece of leasehold land measuring 4,823 sq m in Jalan Kuchai Lama, for RM29 million.
Builder Siab Holdings Bhd is acquiring Taghill Projects Sdn Bhd for RM122 million to be fully satisfied via a combination of RM96 million cash and RM26 million via issuance of Siab shares at an issue price of 13 sen each. Taghill is also a construction company, but is currently serving different clients from Siab.
SkyWorld Development Bhd is committed to achieving a return on equity (ROE) of over 20% for its shareholders going forward.
Loan applications for property purchases rose by 23% month-on-month (m-o-m) in May after a decline of 23% m-o-m in April.
The 21.41-acre commercial hub will have a gross development value of RM300 million.
The asset comprises a 22-storey purpose-built office building together with the annexed six-storey Telekom Exchange and five level of basement car park, located at Jalan Raja Muda Abdul Aziz.
Both firms entered into a subscription and shareholders agreement to establish a 50:50 special purpose vehicle (SPV) named Exio Logistics Sdn Bhd.
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