News by JUSTIN LIM

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.

Trading of securities in Grand Central Enterprises Bhd (KL:GCE) will be suspended on Monday (July 22) from 9am to 5pm, pending the release of a material announcement.

A total of RM162 billion in digital investments were approved between 2021 and the first quarter of 2024 (1Q2024), with the largest share or 76% coming from data centre investments, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.