News by theedgemalaysia.com

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 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 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 Bhd's (KL:GLOMAC) net profit nearly tripled in its third financial quarter, on improved contribution from its property development business amid increased activities.

Crest Builder Holdings Bhd (KL:CRESBLD) has secured two construction contracts worth a combined RM513 million, lifting its outstanding order book to a record RM2 billion.

Paramount Corp Bhd (KL:PARAMON) is acquiring a 3.7-acre freehold commercial land parcel along Jalan Ampang from IOI Properties Group Bhd (KL:IOIPG) for RM257.9 million, which it plans to develop into two blocks of high-end serviced apartments with an estimated gross development value (GDV) of RM1.1 billion.

Binastra Corporation Bhd (KL:BNASTRA) has been appointed to complete construction of Subang Sentral for RM316 million and revive the long-stalled project in Subang Jaya.

Binastra Corporation Bhd (KL:BNASTRA) is poised to close its financial year 2026 with a "bang", according to RHB Research, who is projecting a sharp 60% to 100% jump in its upcoming fourth-quarter earnings, driven by its strong RM7 billion order book.

Axis REIT (KL:AXREIT) aims to convert its remaining loans to sustainability-linked financing and explore more of such funding as the real estate investment trust expands its portfolio.

The trust said it will also benefit from profit rebates tied to achieving pre-agreed sustainability targets.