News by JUSTIN LIM

The first building is scheduled for completion in the third quarter of 2025 (3Q2025), while the second building is expected to be completed in 1Q2026.

The deal involves the setting off of RM66 million of indebtedness, and a RM18 million interest waiver on the debt owed by Talam Transform to IJM Properties.

American tyre company Goodyear has put its factory in Shah Alam’s Section 15 up for sale, following its March decision to shut down its manufacturing facility in Malaysia as part of its cost restructuring efforts.

Building and infrastructure construction company TCS Group Holdings Bhd (KL:TCS) has secured a RM130.15 million contract to undertake the construction of serviced apartments in Selangor, in a related party transaction.

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

IGB Real Estate Investment Trust’s (KL:IGBREIT) net property income (NPI) for the second quarter ended June 30, 2024 (2QFY2024) rose 6.5% to RM109.48 million from RM102.79 million a year ago, due to higher rental income.

UOA REIT (KL:UOAREIT), a trust which mainly manages commercial properties, saw its net rental income fall 22.06% to RM16.48 million in its second quarter ended June 30, 2024 (2QFY2024), from RM21.15 million a year ago, dragged by higher property operating expenses.

Capitaland Malaysia Trust (KL:CLMT) is eyeing more industrial and logistic assets in Johor, given the robust demand and positive economic sentiments there.

CapitaLand Malaysia Trust (KL:CLMT) said it is positive on its earnings outlook for this year, supported by sustained domestic earnings, an uptick in tourist arrivals and better occupancy rates for its retail malls.

Axis Real Estate Investment Trust's (KL:AXREIT) (Axis REIT) second quarter net property income (NPI) increased 12.86% to RM65.95 million from RM58.44 million a year ago, on the back of higher revenue.