Property development company Encorp Bhd (KL:ENCORP), an indirect subsidiary of the Federal Land Development Authority (Felda), has appointed Ahmad Harzimi Mohd Taib as its new group CEO, with immediate effect.

The Master Builders Association Malaysia (MBAM) has urged the government to reconsider the impending revision and expansion of the sales and service tax (SST) on construction services, citing concerns that the move will strain the industry’s cash flow.

At the time, the land, measuring 40,467 sq m and located in Mukim Petaling, had an estimated value of RM70 million.

“We are confident that the management of our property is in the good hands of UCSI Binarestu Sdn Bhd given their expertise and experience in property management.”

The contract encompasses main building works, including external, ancillary and infrastructure works, for 106 bungalow units in Rawang, Selangor.

“We can explore opportunities in different regions as well,” Chua said.

Maybank IB said that M-REITs are projected to deliver attractive average dividend yields of 5.6% in 2025 and 6.1% in 2026.

Paradigm Real Estate Investment Trust (KL:PARADIGM) made a flat Main Market debut on Tuesday, as it closed at RM1, unchanged from its initial public offering price amid a softer broader market.

It is buying the property from High Rich Realty Sdn Bhd, which is controlled by Datuk Seri Tiong Chiong Hoo, Kelvin Tiong Yung Yiing, Clara Tiong Siew Ee and Rosalina Ling Hung Ching via Oriental Evermore Sdn Bhd and Bright World Trading Co Ltd.

The placement shares, totalling up to 253 million or 10% of the company’s share base, will be placed out to independent third-party investors.