News by theedgemarkets.com

It may be challenging for older office buildings in the Klang Valley, which have been left vacant as their owners or tenants move to newer developments, to be filled up, as more new office buildings spring up and more companies move out of the older buildings, said experts in the property sector.

CGS-CIMB Research has maintained its “Hold’ rating on Eco World International Bhd (EWI) at 32 sen with a lower target price (TP) of 35 sen (from 38 sen) and said the company’s 9MFY10/22 results were worse than expectations due to additional costs recognised for built-to-rent (BTR) projects.

Nexgram Holdings Bhd is planning to consolidate every 10 shares in the ACE Market-listed telecommunications and media firm into one new share.

Property tycoon Tan Sri Lim Soon Peng has apparently settled a RM330,800 suit filed by SRC International Sdn Bhd and two others against him last year, for receiving money from the companies via instructions from former Prime Minister Datuk Seri Najib Razak.

Menara Maybank appears to have an advantage over its fellow older buildings in terms of securing tenants in the Klang Valley when owner Malayan Banking Bhd (Maybank) moves its head office to Merdeka 118 in 2025.

"Westlite is always exploring ways to grow organically by reconfiguring spaces to increase capacity."

The property sector has shown signs of recovery in the first half of this year (1H2022) as the economy reopened, but office and retail segments remained challenging amid a supply glut, according to the National Property Information Centre's (Napic) semi-annual report.

"Metrojaya is committed to providing exclusive yet affordable fashion and home goods that cater to the various needs of its consumers through the best shopping experience." 

It is not immediately clear if Zainal Iskandar, 48, is retaining his CEO position.

Mah Sing said its wholly-owned subsidiary Klassik Tropika Development Sdn Bhd is selling the plot located in Pykett Avenue to Morningjoy Sdn Bhd.