The Malaysian REIT Managers Association (MRMA) warns that the proposed 8% sales and services tax (SST) on commercial rental and leasing services could result in a knock-on effect on end-consumers, leading to elevated cost pressures.
Berjaya Land Bhd (KL:BJLAND) has signed a memorandum of understanding (MOU) with Impianan Utara Sdn Bhd to jointly explore and develop two economic projects in Perlis.
Chin Hin Group Bhd (KL:CHINHIN) has called off its planned acquisition of data centre-related firms after the target companies failed to secure an order book of at least RM380 million, a key condition for completion.
A government valuation property expert told the High Court on Tuesday that she disagreed with the calculation of ‘mesne profit’ by a private valuer appointed by voluntarily-liquidated company Semantan Estate (1952) Sdn Bhd.
The expanded SST may raise tenants’ operating costs and limit REITs' rental reversion, said CIMB Securities.
They specifically highlighted the proposed 8% tax on commercial rental and leasing services, deeming its timing "gravely misguided".
The association said the 8% SST on commercial rentals that will kick in on July 1 — introduced without any consultation or engagement with the retail sector — will add further pressure on the retail industry.
Avaland Bhd (KL:AVALAND) has commenced construction of a 300m covered pedestrian walkway and link bridge from its Avenue25 mixed-use development to the USJ21 LRT Station.
GDB Holdings Bhd (KL:GDB) said its non-executive chairman Tan Sri Zaini Omar has resigned from the position due to health issues.
UEM Edgenta Bhd (KL:EDGENTA) has formed a joint venture (JV) company in Dubai, United Arab Emirates, to manage large-scale real estate projects there, marking a strategic expansion into the region.
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