News by theedgemalaysia.com

Industronics Bhd said it had entered into a memorandum of agreement (MOA) on Friday to negotiate a proposed collaboration to construct an international duty-free city on Pulau Langkawi.

UEM Sunrise Bhd is disposing of a 6% stake in Nusajaya Lifestyle Sdn Bhd (NLSB), the developer and operator of the Mall of Medini, Iskandar Malaysia, to Iskandar Investment Bhd’s (IIB) unit Iskandar Harta Holdings Sdn Bhd (IHH), for RM8.92 million.

ACE Market-listed Glostrext Bhd is buying a 1,735-sq-ft office space in Singapore for S$750,000 (RM2.61 million).

EcoFirst Consolidated Bhd is selling 15 retail units from its completed Liberty Arc @ Ampang Ukay mixed development project to major shareholder Tan You Tiong for RM23.82 million.

Axis Real Estate Investment Trust (Axis REIT) has obtained a judgement in default against its former tenant at Axis Steel Centre @ SiLC in Nusajaya, Johor, over a default on rental payments and unexpired future rental payments amounting to RM110 million.

KIP Real Estate Investment Trust (REIT) reported a 15.2% surge in net property income (NPI) for the first quarter ended Sept 30, 2023 (1QFY24), despite its NPI margin declining marginally to 73.8% during the quarter compared with 74.1% in the corresponding quarter.

Construction Industry Development Board's (CIDB) subsidiary Construction Research Institute of Malaysia (Cream) has secured a RM1 million research grant from YTL Cement.

The emergence of a well-managed and well-planned industrial park with emphasis on environmental, social and governance (ESG) attributes and technology adoption will attract high-value investment, said Knight Frank Malaysia executive director Allan Sim at the Selangor Industrial Park Expo (SPARK) 2023 held at the Kuala Lumpur Convention Centre on Thursday.

Global Oriental Bhd, whose revenue is mainly derived from property development, is acquiring a 55% stake in a car park management firm to expand its earnings base.

Gamuda Land on Thursday signed memorandum of understanding (MOU) with 12 tenants for its upcoming Quayside Plaza in its twentyfive7 township development located in Telok Panglima Garang, Selangor.