News by Jason Ng

Shares of Sime Darby Property Bhd (KL:SIMEPROP) climbed to its highest in nearly six years as analysts scrambled to raise their forecasts after the developer reported better-than-expected results.

Trading in the stock was also more active than usual, with volume nearly four times its 200-day moving average.

IJM Land Bhd, the property arm of construction giant IJM Corporation Bhd (IJM Corp)(KL:IJM), said on Thursday that it has secured eight central London sites for development with its partner Network Rail Property.

Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.

Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.

I-Bhd, which develops properties and operates theme parks, said on Wednesday it is planning to issue preference shares to its major shareholder in a deal that could raise up to RM100 million.

The acquisition of the Amsteel Mills Sdn Bhd properties is expected to generate a yield of 7% for the first three years based on the announced monthly rental rate of RM1.83 million. 

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Property developer KTI Landmark Bhd said on Monday that it has secured approval for its initial public offering (IPO) on ACE Market from Bursa Malaysia.

Property developer Crescendo Corporation Bhd on Wednesday declared a special dividend as earnings surged to a seven-year high on the back of rising home sales and high margin industrial land disposal.